Volkswagen Bank is attracting a lot of fanfare as it launches a new securitization program that will mark several firsts for the European market. Volkswagen, the largest auto financing company in Germany, will securitize 1.1 billion of auto loans through a German-domiciled special purpose vehicle, Driver One GmbH.

The deal, which began premarketing last week, will be the first to use the True Sale International (TSI) platform finalized in September by a committee of 13 banks.

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