Carmakers’ euro and sterling auto ABS deals priced

By David Bell, Graham Bippart
10 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 Three sterling auto loan deal was priced in line with expectations.

Joint leads BNP Paribas and HSBC priced the €1bn '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 €1.5bn. The €72m ‘B’ tranche has been retained.


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