Paragon Auto and Secured Finance (No1) plc (PSAF) recently issued its first euro-denominated transaction, which is secured on two asset classes. A U.K. special purpose vehicle, PSAF launched EURO285m and GBP26.33m floating-rate notes secured on 18,365 auto loans and secured loans.

Lead managers SG sold the deal, which was oversubscribed, in Europe. This included investors in the UK (26%), France (9%), Luxembourg (15%), and Germany (22%). "This is the first time Paragon has issued in euros, which opened up Paragon's existing investor base," said Lee Galloway at SG in London.

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