AUTO1 Group Successfully Prices Debut Public Market German Consumer Car Loan ABS

On July 18, 2024, AUTO1 Group SE announced the successful pricing of its first securitisation of German consumer car loans on the public market. The portfolio includes EUR 223 million of loans originated by Autohero, its retail segment. This milestone transaction gives AUTO1 Group access to cost-effective refinancing as it expands its finance business.

The transaction, known as FinanceHero 2024-1, includes four classes of notes with a blended spread of 87bps. The notes were rated and verified, meeting European Central Bank eligibility. AUTO1 Group will benefit from the spread differential, leading to additional profits.

CFO Markus Boser highlighted the importance of this milestone for AUTO1 Group’s strategic growth, noting strong investor demand. Citigroup acted as underwriter, with Linklaters and Hogan Lovells providing legal advice.