Joining
Volkswagen is also planning its Volkswagen Auto Loan Enhanced Trust 2012-2. Credit Suisse and BofA Merrill Lynch are joint bookrunners on the
The company came to market with the
Deutsche Bank Securities,Citigroup Global Markets and Santander are the underwriters on the deal. Other underwriters solely with respect to the Class A notes are Credit Suisse and JPMorgan Securities.
The deal is backed by motor vehicle retail installment sale contracts and/or installment loans that are secured by new and used cars, light-duty trucks and vans, most of which are loans of subprime borrowers.
Auto-related ABS issuance reached $77bn through late September, as U.S. auto sales and auto loan originations remain strong.