Brief: Auto1 Group Prices Debut Public Market German Consumer Car Loan Abs

AUTO1 SE

18/07/2024 06:32

July 18 (Reuters) - AUTO1 GROUP SE  AG1G.DE :
    * SUCCESSFULLY PRICES DEBUT PUBLIC MARKET GERMAN CONSUMER
CAR LOAN
ABS
    * TRANSACTION COMPRISES 4 CLASSES OF NOTES SUCCESSFULLY
PLACED IN
PUBLIC MARKET WITH A BLENDED SPREAD OF 87BPS
    * PORTFOLIO INCLUDES EUR 223 MILLION OF GERMAN CONSUMER CAR
LOANS
ORIGINATED BY AUTOHERO, GROUP'S RETAIL SEGMENT
    * COMPANY EXPECTS TO SEE A RELEASE OF CASH BACK TO ITS
BALANCE
SHEET ON CLOSING AS EFFECTIVE REFINANCING ADVANCE RATE HAS GONE
FROM 83% TO 95%
    * CITIGROUP ACTED AS UNDERWRITER AND MANDATED LEAD ARRANGER
ON
TRANSACTION.

Source text for Eikon:  ID:nEQbJTRC9a 
Further company coverage:  AG1G.DE 

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