European ABS battens down hatches despite Mercedes reopener

David Bell

June 30, 2016 07:15 PM

Storm clouds 230x150 — A cargo ship sails across the North Sea off the coast of Whitley Bay, Tyne and Wear, as storm clouds sweep down the coast with snow forecast. | Owen Humphreys/PA Wire/Press Association Images

Mercedes-Benz bank reopened the European ABS market with a €1.1bn German auto ABS deal on Thursday, but market players are bracing for a subdued and “clubby” market over the next few months as UK issuers wait for volatility to subside in the aftermath of the British referendum result.

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Topics

Santander ABS Securitization UniCredit Brexit Société Générale

DB

David Bell