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No TALF in Europe so it took some time longer than in the States. I meant to put Europe in the thread title.
http://www.bloomberg.com/apps/news?p...d=aMIj.jnPbsuo
Also, I've started to receive car loan advertisements from Capital One again.
http://www.bloomberg.com/apps/news?p...d=aMIj.jnPbsuo
Sept. 23 (Bloomberg) -- Lloyds Banking Group Plc, the U.K.’s biggest mortgage lender, and the financial unit of Volkswagen AG may help resuscitate Europe’s 2.2 trillion-euro ($3.2 trillion) asset-backed securities market with the first public sales of the debt in more than a year.
Lloyds’ HBOS Plc unit is selling investors part of its 4 billion-pound ($6.6 billion) Permanent Master Trust 2009-1 deal, the first issue of notes backed by U.K. mortgages since May 2008. Volkswagen Financial Services AG is selling 475 million euros of notes secured by car leases, the first deal of its type since September 2008, according to data compiled by Bloomberg.
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Asset-backed bonds are one of the last parts of the credit market to recover from the economic slump. Since mid-2007, the market has been dominated by borrowers packaging up debt into bonds used as collateral for European Central Bank loans.
[..]
Volkswagen Bank GmbH was the last issuer of auto lease- backed bonds in Europe, when it raised 967 million euros in September 2008, according to UniCredit SpA data.
[..]
Today’s sales follow three simplified asset-backed securitizations earlier this year from Tesco Plc and Land Securities Group Plc, which had fewer tranches and more credit support than traditional asset-backed bonds.
Lloyds’ HBOS Plc unit is selling investors part of its 4 billion-pound ($6.6 billion) Permanent Master Trust 2009-1 deal, the first issue of notes backed by U.K. mortgages since May 2008. Volkswagen Financial Services AG is selling 475 million euros of notes secured by car leases, the first deal of its type since September 2008, according to data compiled by Bloomberg.
[..]
Asset-backed bonds are one of the last parts of the credit market to recover from the economic slump. Since mid-2007, the market has been dominated by borrowers packaging up debt into bonds used as collateral for European Central Bank loans.
[..]
Volkswagen Bank GmbH was the last issuer of auto lease- backed bonds in Europe, when it raised 967 million euros in September 2008, according to UniCredit SpA data.
[..]
Today’s sales follow three simplified asset-backed securitizations earlier this year from Tesco Plc and Land Securities Group Plc, which had fewer tranches and more credit support than traditional asset-backed bonds.