Europe continues to showcase a line of new prime ABS and this week added a new Spanish auto loan securitization to the mix.

Driver Espana One, Fondo de Titulizacion de Activos' upcoming €686 million ($937 million) issue of ABS floating-rate notes, due September 2021, marks the first securitization of auto loan receivables originated by Volkswagen Finance within Spain. VW Finance is a wholly-owned subsidiary of the Volkswagen Group.

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