Deals of the Year 2024: Inaugural auto ABS prospers despite difficult conditions
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Finance Ireland, one of Ireland’s largest non-bank lenders, undertook its inaugural auto ABS transaction through Auto Receivables No.1 DAC. Despite difficult conditions, this largest ever Irish auto loan securitisation proved highly successful.
The €250 million transaction involved the securitisation of a portfolio of auto HP and PCP contracts originated by Finance Ireland. It was the largest ever in the Irish auto loan market and was designed to qualify as an STS securitisation.

Although this was the company’s inaugural auto ABS Finance Ireland was already a well-established presence in the securitisation markets via its RMBS & CMBS offerings. The portfolio comprised a static, amortising an....

 

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This article appeared in the May 2024 edition.