VW looks to hit 20bp on lease ABS

By Graham Bippart
28 Apr 2015

Spreads are going ever tighter for one of the European market’s most regular issuers, as the class ‘A’ tranche of Volkswagen’s German auto lease ABS, VCL 21, is being guided at 20bp-22bp over one month Euribor.

At the tight end of guidance, that would be 7bp tighter than the pricing achieved on the similar tranche of VCL 20 in November.

The €704.2m top rated tranche is already subscribed, as well as the €20.3m class ‘B’ tranche, for which guidance is 65bp area over ...

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