Carmakers’ euro and sterling auto loan ABS deals priced

By David Bell
09 Sep 2015

Mercedes-Benz’s Silver Arrow S.A. Compartment 6 deal was priced at a tighter spread than initial price thoughts on Tuesday, demonstrating a strong level of investor demand for euro auto loan ABS, while Volkswagen’s Driver UK 3 sterling auto loan deal priced in line with expectations.

Lead managers BNP Paribas and HSBC priced the €1 billion A-tranche of Mercedes-Benz’s Silver Arrow auto loan ABS deal at 23bp over one month Euribor, 2bp tighter than initial price thoughts. The deal attracted a book size of €1.5 billion. The €72m B-tranche has been retained.

The £350m ...

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