Bloomberg News

SocGen German Unit Said to Offer 500 Million Euros of Auto Bonds

February 09, 2012

Feb. 9 (Bloomberg) -- A German unit of Societe Generale SA is selling 500 million euros of bonds backed by auto loans, according to three investors with knowledge of the matter.

The bonds will have an average life of about 1 1/2 years and may be priced at 95 to 100 basis points more than one-month Euribor, the investors said.

The securities are backed by repayments on about 72,000 German auto loans originated by Bank Deutsches Kraftfahrzeuggewerbe AG, the investors said. The asset-backed securities will be issued through the Red & Black Auto Germany 1 vehicle.

To contact the reporter on this story: Esteban Duarte in Madrid at eduarterubia@bloomberg.net

To contact the editor responsible for this story: Andrew Reierson at areierson1@bloomberg.net


Toyota's Hydrogen Man
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus