Europe

September was the busiest month for CLO issuance since mid-2015, accoriding to Thomson Reuters L

While Volkswagen continues its international efforts to remedy its 2015 diesel-engine emissions scandal, the German automaker also carries on with its ramped-up efforts since last fall to raise more capital through securitizations. The latest transaction is a €750 million (US$837.5 million) static pool of German vehicle lease receivables from both retail and commercial contracts.

The Florida Public Service Commission takes issue with the way that three U.S. credit rating agencies classify certain bonds issued on behalf of two power companies that operate in the state.

An affiliate of BBVA is securitizing €265 million in Spanish mortgages, a majority of which are formerly delinquent loans from the Catalonia region returned to performing status.

The portfolio’s structure includes a €930 million Class A notes stack carrying a floating rate coupon and provisional triple-A ratings from DBRS and Moody’s Investors Service.

A pool of credit card receives issued by Group BPCE’s Natixis Financement unit are being securitized in the second-ever issuance through the Purple Master Credit Cards, FCT in France. The €651 million transaction mostly consists of €550 million in a Class A2016-1 series of notes.

Zopa, an online lender based in the U.K., is marketing £138 million of bonds backed by unsecured consumer loans, according to Moody’s Investors Service.

E-Carat S.A., Compartment 9 is comprised of two series of rated notes of undetermined size, backed by a pool of €513.5 million in loans.

Kroll Bond Rating Agency taps Mauricio Noe to Lead its push into Europe.

Ford Motor Co. is securitizing its second round of German auto loans this year in a €541.7 million pool of both private and commercial borrower receivables tied to significant balloon payments.