Guidance cut on Volkswagen auto ABS -lead

Newswire

LONDON, Jan 24 (Reuters) - Guidance has been tightened on the triple-A portion of a planned 1 billion euro ($1.5 billion) security backed by German auto loans originated by Volkswagen , an official at one of the banks managing the sale said on Thursday. Guidance on the 934 million euro tranche of Driver Five, Europe's first asset-backed deal this year, has been tightened to Euribor plus 58 basis points from plus 60 basis points area, the official said. Tightened guidance can be seen as a ...

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