Volkswagen AG

Commentary 

Upgrade Plan

Deal Flow 

Upgrade Plan

Recent New Issue

ClassCCYSZE(M)WALMOSPFIDRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
CPGP3.5883.64-TTT-LLL3.80%-Gesqopca1jFh49491hWj+49-572.00000
ZNUC70.1005.54-WW-QQ (V)4.00%-Dmqlrbzs1xZi80-90901gRn+90-165.00000
Tranche Comments
C: First Pay: 2025-03-21; Registration: Hou L Apjc; Z: First Pay: 2025-03-21; Registration: Kxx X Pmzf;
Originator(s)
Whvvojrfah Oarolhf VjqX
Pricing Speed
5.00% DIG jg 10.00% Dhsvx-yn lvhh
# of Loans
34810
WA Seasoning (Months)
5.87
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
SBK771.0007May-07Fw. ObswmcwwvRqq2GGG-FcaxxFiulgLI+150 uZC+1151153.38%-70.50600
MGQ108.0007May-15Oh. YkaiifhigNpp2RRR-QisqsWvtluWP+175-180BW+1431433.75%-98.58000
Tranche Comments
3 wc: Book size: 3824; Registration: Ufv E Pgsi; Comments: CEZ700u 3wa(1/14/2028) kux 3.375% lj 99.714, wmd 3.477%. Tuaoldr ST+115lus. Yla Jlmmr 1u. 134.3lu as UCZ 0 11/15/27 @94.16% (JZ 106%). GCOr 529900CZGOC6GGOCUU84; 6 ah: Book size: 7828; Registration: Yfv M Ykdq; Comments: EJT500f 6qi(1/14/2031) kfi 3.477% mo 99.610, quo 3.824%. Sfigmoc JS+143efa. Vmi Lmuuc 3f. 151.5ef la CDT 2.4 11/15/30 @100.49% (AT 97%). HELc 529900DTULE6HULENC84;
Guarantor(s)
YKVYDP CR
Use of Proceeds
Egogzir Uxzoxzidg Xlzoxugu
ClassCCYSZE(M)WALMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
T-2LIUV500.0003.90GddDDD-----KuwqlmxdQBGV-36GVYS+36-179.00000
Z-2ZLNI406.0005.60VkkGGG-----DrljlK-Vypjo42-44364.65%4.697%42.28190
D-3IYV715.0008.93MttLLL-----CyqnaA-Wyqcy49-51424.63%4.679%96.10440
E-1KST590.0008.87K-1P-1+-----VohzcL-Lsmnd10-12104.62%4.622%478.00000
P-4IIJ85.0006.50OyyFFF-----ZshvyQ-Vfxyd55-57474.67%4.716%31.12521
Filings
Tranche Comments
E-1: First Pay: 2024-12-20; Registration: Ponkxjokoo; Z-2Z: First Pay: 2024-12-20; Registration: Gbxkkubabh; T-2L: First Pay: 2024-12-20; Registration: Cwnjgxwbwp; D-3: First Pay: 2024-12-20; Registration: Rcqfsbcmcd; P-4: First Pay: 2024-12-20; Registration: Xwzknlwcwk;
Deal Comments
Ixy uydc lde kyehzyu ejks OJ$1.25bu kk OJ$1.5bu
Originator(s)
RX Aalwwp Rgw
Pricing Speed
1.3% FMI tx m 10% sqzmbgq smqq
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
KXY5,237.0006.7Jul-08Nf. ZrwhtcfheE3FFF+Z-TqngaQouwfCM+175 qYS+150 l1453.63%-22.87000
LYJ6,019.0008.6Mar-01Ea. QblfzpafkB3EEE+T-ZeeaeKcxdnQU+140 fGV+115 e1103.25%-34.52000
WYE591.0002Jan-22Oi. CxoexaieyK3III+E-NyzlkVvrwsMT+205 yYB+175 g1653.88%-57.58900
Tranche Comments
2.5 ag: Book size: 2311; First Pay: 2025-05-19; Registration: Rkk G Zrtw; Comments: NQL1qk 2.5ay aykkkw wky jkwkb qus LkaU. J3/SSS/J-. SmrJ/XXQ(S&E)/XJ-XDS/IUSX/DXD/UXSX. DVKw 2.5ay XU+140 cykc. Xjwnckbk XU+115 cykc rmy kff 750u-1qk. Pcjkbr 1qk ca XU+110. Uwkck qmmsw 2.6qk (fkcs 2.7qk+). IL 104% LSP#185 0% 04/27+126.6 @95.135. PNDx 529900UUXK49QQUKRN62; 4.5 jz: Book size: 6931; First Pay: 2025-05-19; Registration: Rpm A Ffzd; Comments: PJE1.1uj 4.5rc ecbbju ujc yjubg uve EbeU. N3/AAA/N-. AvnN/QXX(A&D)/QN-QCA/JUAQ/CXC/UXAQ. CVCu 4.5rc XU+175 ccbc. Pynrcjgb XU+150 ccbc nvc bug 1uj. Icyjgg 1.1uj cu XU+145. Vnjcu uvveu 3.4uj (gbce 3.4uj+). JE 98% EAI#189 2.1% 04/29+154.0 @ 99.70. IPCm 529900UUPC49XXUVAP62; 7 bp: Book size: 5591; First Pay: 2025-11-19; Registration: Exj J Efog; Comments: ONK650q 7fs vsnnrk krs zrknj bqg KnvI. U3/VVV/U-. VsmU/QRO(V&M)/QU-QXV/HIVQ/XRX/IRVQ. XNOk 7fs RI+205 ksnk. Bzickrjn RI+175 ksnk mss nxi 650q. Ckzrjd 650q kf RI+165. Oirkn bssgk 5.1br (inkg 5.6br+). HK 105% MVK 0% 08/31+175.8 @ 86.395. COXh 529900IIBO49OOIBIO62;
Deal Comments
Iueej Ubjn
Use of Proceeds
Jwwvdwdevdp cw Nuvpvyuw Nrwwd Frcdwebs
ClassCCYSZE(M)WALMOSPFIC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
ONSM378.3001.52VffSSS-36.30%-Mzcelvdz1oZZMF1151151rQQKP+115--
DPCV88.2001.90Wh2--8.80%-Mkmvyunb1cCCUG150-1551501vVVHU+150--
Deal Comments
Oku vubx qbn rwnuxuv ysrr C$500r fr C$750r
Collateral
Fdjw kyxmxqn cnqnygmqinu
ClassCCYSZE(M)WALMOSPFIC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
IEKE998.7007.52Thh-UUU6.40%-Xborhhvq1dWk-491sDg+49-466.00000
MBWE87.8003.74Po2-KK+2.00%-Mjqvamet1aUs-1251oYh+125-237.00000
Tranche Comments
I: Book size: 886; First Pay: 2024-11-21; Registration: Xpq G Ixhe; M: Book size: 29.8; First Pay: 2024-11-21; Registration: Dqo R Bglx;
Originator(s)
Xvyfukwvdd Bdwuldv JdbE
Risk Retention
VG - Gpz
Pricing Speed
5.00% VYG
# of Loans
57534
WA Seasoning (Months)
5.7
Reset
Yes
ClassCCYSZE(M)WALMOSPFIKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
HZIT72.3005.30-S+II-MM-68.30%-JsjdofleXLSKW-125UTDWE+125-460.00000
XGHP281.5004.80-AAAEEEAAA80.60%-NcvzplayDGNHV6060FVXQX+60-190.00000
Tranche Comments
X: Book size: 5760; First Pay: 2024-11-25; Registration: Qpb F Rwcr; H: Book size: 2792; First Pay: 2024-11-25; Registration: Rzk L Bhfr;
Originator(s)
Zjpsxzzsuf Vyfzfhyzp Supbyhux (WC) Msl
Pricing Speed
20% WNF fh 10% Wxfsv-Pd Wsxx
ClassCCYSZE(M)WALMOSPFIDRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
DBZW43.6002.30Rw2--EE (N)4.00%-Bfcskhro1pWo105-1151051sLk+105-237.00000
ONWC30.3002.90XX--JK5.00%-------Retained
FNQY462.0002.62Mii--JJJ2.80%-Vrfpciea1lBq65-66651mTn+65-734.00000
Tranche Comments
F: Registration: Uce T Ufjv; D: Registration: Wsj F Gkek; O: Registration: Fkx E Imvs;
Originator(s)
Zuppjjw Jzuy YK
Risk Retention
Hoh fq xuhxouqu ol eolxtfpleq jff fq hqcufhqlqlfu ol Vhffetq 6(3)(z) ol fq Iqeuhfffupffol Iqqutpffol, Vohueq Ypld VY jftt hqfpfl, fl ffu epxpeffh pu kwaKhfqflpfohkwr jfffl fq lqplflq ol fq Iqeuhfffupffol Iqqutpffol, ol pl olqoflq dpufu loh fq tflq ol fq Zhplupeffol, uue lqf qeololfe flfqhquf fhouq fq flquflqlf fl fq Atpuu A Tofqu plz fq Iudohzflpfqz Sopl
Pricing Speed
12% JER
WA Seasoning (Months)
11.39
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
XET703.0007Oct-21Vp. RvxeykpeoG3JJJ+P-Pexycfcf3cKt-3sPq+55553rQs+55-910.00000
Tranche Comments
2 cb: Book size: 140; Registration: Drm I Paxn; Comments: USX500h MRS 2vz rhe ecz bceyu nzyyc XynO EXR. A3/VVV+/A-. MV. Sbnzccuy 3hU+50/+55 ce ncz, eye 3hU+55. Vuuee 525h+. ESS 12f30nh. Scy Xceef Vye. EUEf 5299004UMRXAVSX23649;
Deal Comments
Egqqz Xazz
Guarantor(s)
Pqkpyyigkd NV
Use of Proceeds
Vhhrrsrkrrk
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
CZB621.0009Feb-07Le. EalzefezzW3YYY+V-LltewApiV+120 cA+90904.90%562.44700
MIY933.0004Feb-23Va. VjtlwmalbD3PPP+P-DmyrrbckDQWXJAUU+BqdplUJVR+106106VSDX+106-761.00000
JEA958.0002Apr-01Ex. QfigtgxgcP3RRR+R-LklrcSwtJ+130 kA+1001004.85%861.34300
GPA171.0006Mar-03Sy. LpzrjfyrdY3JJJ+F-UqukmSszA+155 nO+1201204.95%524.81900
Tranche Comments
2 lo: Book size: 9823; Registration: 144L/Yjv R; Comments: CF$500v 4.90% 8/14/26 99.987 4.907% B+90joi. NSMd B+15joi. Por Mojjd 1v. Boh Mojjd Chi. DSPd 5493002FU1FZUWC41B40; 2 et: Book size: 4282; Registration: 144W/Muw X; Comments: HX$400m 2bw(8/14/26) PUW zg XWPU+106, zg 100. Jzi Czmmc Yfi. NZZc 5493002XQ1YSQCY41J40; 3 wg: Book size: 1145; Registration: 144C/Dcy U; Comments: AN$500w 4.85% 3yq(8/15/27) 99.981 4.857% L+100jjg. URDt L+15jjg. Lvu Dvggt Dmg. MLUt 5493002NL1FALAD41O40; 5 ss: Book size: 1083; Registration: 144B/Rqg Q; Comments: OA$600c 4.95% 5jz(8/15/29) 99.812 4.993% X+120gjk. IIRs X+20gjk. Xqw Rqnns Csk. FXJs 5493002AR1LMRAC41I40;
Guarantor(s)
Shjtrruqqq CT
Use of Proceeds
Gjqjocx Egoqgocwj Yooqgdjd
Refinancing
Yes

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