Allen & Overy has advised Crédit Agricole CIB and Société Générale as co-arrangers and Crédit Agricole CIB, Citigroup Global Markets Limited and Société Générale as joint lead managers in relation to the securitisation by DIAC of a portfolio of French auto loans and the issuance by the newly created fonds commun de titrisation Cars Alliance Auto Loans France F 2012-1 of EUR 750 million asset backed fixed rate Class A Notes.
The transaction presents the unique feature of being a fixed rate transaction by contrast to the usual floating rate practice. This transaction is particularly visible in a segment (the auto loans ABS) which is one of the most active in the securitisation public market these days. The transaction which has benefited from a high demand from investors, has been very successful.
The Allen & Overy team was led in Paris by Fabrice Faure-Dauphin, assisted by Pascal Jouannic, Samir Bensaker, Antoine Trillat and Fabien Moles.
RCI Banque was advised by DLA Piper with Véronique Colin.
