Volkswagen announces first true sale securitisation
Volkswagen Bank announced this week its intention to securitise some €1.1 billion in auto loans using the German True Sale International (TSI) platform.
The deal will be the first to use the TSI platform, which has been in the making for at least 18 months. TSI offers a standardised platform for deal execution, but it is not the only avenue available for issuers seeking to execute cash securitisations in Germany.Analysts expect the launch of TSI to have a positive impact on the cash securitisation market in Germany, which to date has been relatively miniscule compared with the synthetic market.
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