ABS: Autokinito EUR496.5m Greek auto ABS final terms
Reuters - 26/09/2011 10:04:08
%0 [Deal Type ] Structured Deals
[Status ] PRICED
[Issuer ] Autokinito
[Currency ] EUR
[Size ] 496.5
[Size Type ] M
[Bookrunners ] NBG
[Pricing %0Date ] 2011-09-23T00
[Type Detail ] Auto ABS
[Settledate ] 2011-09-23T00
[Type ] ABS
[Originator ] National Bank of Greece SA
[Settlement Date ] 2011-09-23T00
[Country ]%0 GREECE
[NOTES ] Retained Greek auto loan ABS from National Bank of
Greece. Backed by 67,724 loans, 61.62% originated by dealers and 38.38% through branches (by EUR). Loans originated between 2004 and 2011. 4.6% in arrears by more than%0 30 days. [Tranches ]
CLASS SIZE(m) RATING FINAL COUPON A EUR400 Unrated Sep 2023 6ME+200bp B EUR96.5 Unrated Sep 2023 6ME+350bp [Review ]
National Bank of Greece has followed its Spiti Plc retained RMBS with %0this auto loan ABS, as well as a consumer loan deal. None of the issues are rated, ruling out ECB repo potential, but a structured finance official at NBG said that discussions were taking place about private repos based on bond backed by the %0underlying assets as opposed to rated securities. The consumer loan deal is EUR1.6bn in size, called Agorazo.