April 29th, 2022
PLACEMENT OF A 702.3 MILLION EURO SECURITIZATION BACKED BY FRENCH AUTO LOANS
RCI Bank and Services announces the placement of a securitization backed by auto loans originated by its French subsidiary DIAC.
FCT Cars Alliance Auto Loans France V 2022-1 has placed 650m€(1) of Senior notes and 52.3m€ of Junior notes. These notes are rated AAA(sf) / Aaa(sf) and AA (low)(sf) / A2(sf) respectively by DBRS and Moody’s.
The Senior tranche, with a weighted average life of 2.7 years, has a margin(2) of Euribor 1 month + 39bps. The Junior notes, with a weighted average life of 4.5 years, have a margin(3) of Euribor 1 month + 135bps.
The successful placement during volatile market conditions demonstrates investors' continued confidence in RCI assets quality and receivable management process. This transaction also confirms the diversified financing sources to which the company has access.
(1) : of which 100m€ have been retained by RCI Banque
(2) : Coupon: Euribor + 70 floored at zero, issuance price 100.856
(3) : Priced at par
RCI Banque S.A.
French credit institution and insurance brokerage company, with a capital of 100,000,000 EUR Head office: 15 rue d’Uzès - 75002 PARIS
SIREN: 306 523 358 R.C.S. Paris – VAT N°: FR95 306523358 – APE code: 6419Z – ORIAS N°: 07 023 704 – www.orias.fr
RCI Bank and Services is a trademark registered by RCI Banque S.A.