Volkswagen sells €1bn Spanish auto-backed securitisation
https://www.ft.com/content/019db6d6-5703-3af7-a6b8-d0392c8d759a
"The €1bn transaction is securitised with receivables from Volkswagen’s Spanish subsidiary, and has the lowest pricing ever from that issuer. Securitisation, commonly used with mortgages, auto loans and credit card debt, is a process where assets are transformed into bonds that are sold on to capital markets investors. The order book was 2.6 times oversubscribed, according to Volkswagen.."
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