Europe

The size of the two classes of notes on Volkswagen Financial Services' Compartment Driver UK SK deal is to be determined; they will be backed by receivables on 24,238 prime retail customer lessors.

The prime mortgage securitization is the fourth by Bank Nagelmackers, a small player on the Belgian mortgage scene that is owned by a Chinese insurance group comglomerate.

The pricing of BlueMountain Fuji's second-ever transaction pushed the monthly new issuance total to $10.1 billion - only the third time since last November the market has eclipsed the $10 billion barrier.

The diverse mix of collateral ranges from vehicles and medical equipment to high-end fitness machines and tanning beds that Abcfinance provides for German SMEs and entrepreneurs.

In Europe, €1.6 billion of new collateralized loan obligations priced during the month July, taking issuance volume for the year to date to €10 billion across 25 deals. That's in line with the €9.7 billion issued during same period last year.

A German judge's support behind efforts to ban diesel-engine vehicles in Stuttgart could set in motion a decline in performance for German and European auto loan securitions, says Moody's.

Belgium-based diamantaire Diarough is offering $150 million in notes backed primarily by its inventory of rough and polished diamonds, according to a presale report from Kroll Bond Rating Agency.

An affiliate managing the loan for the reinsurance giant's investment advisory arm will keep a horizontal equity strip of the deal for dual EU/US risk retention compliance.

While leveraged loans may use prime as a fallback, getting unanimous consent from collateralized loan obligation investors to use an alternative benchmark could be a challenge.

Moody's believes that rules grandfathering existing transactions increase the risk that these deals could be left unhedged; it may downgrades some European RMBS and U.S. student loan-backed securities.