Ford starts engine for Rmb3bn auto ABS ride
Ford Automotive Finance (China) is readying its Rmb3bn ($435m) auto ABS transaction, its first this year and its sixth on the Mainland. But investors hoping for some new features will be disappointed, as the new transaction shares similar features with its last two outings in 2016.
Bookbuilding is expected on April 13, with China Merchants Securities the lead underwriter for the transaction. BOC International, HSBC and Industrial and Commercial Bank of China are the joint lead underwriters, while Morgan Stanley is the financial adviser.
Other members of the underwriting group include Bank of Tokyo-Mitsubishi
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