PLACEMENT OF A SECURITIZATION OF 702.3 MILLION EUROS GUARANTEED BY FRENCH AUTO CREDITS


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April 29, 2022

PLACEMENT OF A 702.3 MILLION EURO SECURITIZATION SUPPORTED IN FRENCH SELF LOANS

RCI Bank and Services announces the placement of a securitization backed by car loans originated by its French subsidiary DIAC.

FCT Cars Alliance Auto Loans France V 2022-1 placed €650m(1) Senior bonds and €52.3 million in Junior bonds. 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. Junior notes, with a weighted average life of 4.5 years, have a margin(3) of Euribor 1 month + 135bps.

The successful placement in volatile market conditions demonstrates investors’ continued confidence in the quality of RCI’s assets and receivables management process. This transaction also confirms the diversified sources of financing to which the company has access.

(1): including €100 million withheld by RCI Banque
(2): Coupon: Euribor + 70 floored at zero, issue price 100.856
(3): Price at par

RCI Bank SA
Credit institution and insurance brokerage company with a capital of EUR 100,000,000 Head office: 15 rue d’Uzès – 75002 PARIS
SIREN: 306 523 358 RCS Paris – VAT number: FR95 306523358 – APE code: 6419Z – ORIAS number: 07 023 704 – www.orias.fr
RCI Bank and Services is a registered trademark of RCI Banque SA

  • PR_PLACEMENT OF A SECURITIZATION OF 702 MILLION EUROS ADOPTED BY FRENCH AUTO CREDITS 04/29/2022