Small German bank prices second auto ABS

By Graham Bippart
07 Apr 2015

German vehicle financier Bank11 priced a €346.4m German auto loan securitization, its second such deal, last Thursday.

The two-tranche deal, called RevoCar 15, was not publicly offered to investors. It consisted of a €291m A class, rated A/A by S&P and Fitch, with 16% credit enhancement and a weighted average life of 1.8 years. That tranche offered a 0.9% coupon.

The unrated €55.4m B class, ...

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