By Owen Sanderson LONDON, May 31 (IFR) - RCI Banque, the financing arm of Renault, has structured a retained auto ABS without a swap - a rare event for a major issuer with full market access opting for that structure. The strategy is likely to become more popular as banks are downgraded, and tougher rating agency criteria restricts the number of eligible counterparties to ABS bonds to achieve the highest ratings. Auto ABS notes are usually floating rate, with a swap built into the structure ...
Premium Content (PAID Subscription Required)
"RCI Banque drops retained ABS swap on counterparty fears" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.