Mobilize Financial Services Groups €890.2M securitisation backed by auto loans
News provided byMobilize Financial Services Group · 1 min read
Mobilize Financial Services Group, a subsidiary of Renault Group, has successfully placed a €890.2 million securitisation backed by auto loans from its Spanish branch. This transaction, titled "Cars Alliance Auto Loans Spain 2026," marks the company's first securitisation that combines funding purposes with regulatory capital optimisation.
The securitisation includes a range of notes, with the majority of the capital, €800 million, in the form of Class A notes. Additionally, the transaction features Class B, C, D, and E notes, with amounts of €35.2 million, €26.4 million, €17.6 million, and €11 million, respectively. These notes are rated AAA by both Fitch and S&P, indicating high creditworthiness.
The transaction is structured with a weighted average life of 2.74 years for the senior notes, providing stability and predictability. The Class A notes, which are the senior-most, offer a coupon of one-month Euribor plus 60 basis points (bps), while the Class B, C, and D notes offer coupons of one-month Euribor plus 85 bps, 105 bps, and 135 bps, respectively. The Class E notes, with a weighted average life of 0.49 years, provide the most aggressive coupon, offering one-month Euribor plus 134 bps.
Mobilize Financial Services Group, which has been operational for nearly a century, is a commercial brand of RCI Banque SA, a French bank specialising in automotive financing and services for Renault Group, Nissan, and Mitsubishi in various countries. The company operates in 35 countries and employs nearly 4,000 people. As of the end of 2025, Mobilize Financial Services had financed over 1.27 million contracts for new and used vehicles and sold 3.6 million services. The company's average earning assets were valued at €59.3 billion, and pre-tax earnings amounted to €1.181 billion.
The securitisation is part of the company's broader strategy to optimise capital and enhance its financial flexibility. Mobilize Financial Services has been expanding its deposit-taking business in several countries, with net deposits reaching €29.9 billion by the end of 2025, representing 46.8% of the company's net assets.