SocGen German Unit Said to Boost Auto Bonds to 750 Million Euros
A German unit of Societe Generale (GLE) SA is increasing an issue of auto loan-backed bonds to 750 million euros from 500 million euros, according to three people with knowledge of the deal.
The securities are backed by repayments on about 72,000 German auto loans originated by Bank Deutsches Kraftfahrzeuggewerbe AG, the people said. The asset-backed securities will be issued through Red & Black Auto Germany 1.
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