VW Finance priced its €628.90 million ($916 million) auto loan ABS called Driver Espana. It's the issuer's first securitization of auto loan receivables originated by VW Finance within Spain.

VW Finance is a wholly-owned subsidiary of Volkswagen Group.

The structure offered two tranches of floating rate notes due September 2022. The transaction's €570.50 million class A 'AAA' notes priced at 125 basis points over the one-month Euribor. The €58.4 million class B 'A+' notes priced at 275 basis points.

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