MUFG is pleased to have supported Finance Ireland Credit Solutions DAC (“Finance Ireland") in their inaugural auto asset-backed security (“ABS") transaction to the European ABS market. MUFG Securities (Europe) N.V. acted as co-arranger and joint lead manager on the EUR 250 million transaction, the largest ever in the Irish auto loan market.

Finance Ireland is a new entrant in the European prime auto ABS market. In early 2022, the company successfully began originating prime Irish auto loans on its own balance sheet. Supported by a private warehouse securitisation provided by MUFG, Finance Ireland had an auto lending book of more than EUR 500 million as of August 2023.

With this transaction, MUFG further supports Finance Ireland's growth in the Irish auto loan market by further diversifying its funding sources through public ABS.

Jacob Binnema, Head of European Public Securitisation, MUFG EMEA, said:

"We are pleased to have supported on this significant transaction for Finance Ireland which marks their first transaction in this market. This transaction puts Ireland more firmly on ABS investors' radars, further adding to the breadth and depth of the European auto ABS markets.

MUFG has a long history and track record of success in the securitisation market with expertise that enables our clients to optimise their working capital with bespoke solutions suited to their needs."