BBVA plans 1.0 bln euro auto loan ABS -leads

Newswire

LONDON, Nov 25 (Reuters) - Spanish bank BBVA plans to sell a 1.0 billion euro ($1.18 billion) three-part bond backed by auto loans it originated, the banks managing the sale said on Friday. BBVA, Dresdner Kleinwort Wasserstein and JP Morgan are managing the sale, which is expected in the week of Dec. 12 following a roadshow to be held next week. The largest, triple-A rated tranche will total 949.5 million euros and has a weighted average life of 3.57 years, the banks said. The loan ...

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