BMW revisits Chinese ABN market, seals tight deal

Rebecca Feng

April 15, 2020 08:15 AM

BMW_HQ_PA_575X375_15Apr20 — CORONAVIRUS (Covid-19) at BMW in Munich. A BMW employee in Munich has tested positive for the corona virus. A BMW spokeswoman said on Monday that he was not traveling and worked in the research and development center (FIZ). Archive photo; PHOTO ASSEMBLY: Dark prognoses in the BMW savings program of the car manufacturer BMW cuts thousands of highly qualified working hours and salaries. Archive photo; Border motif feature BMW logo at the BMW group headquarters, high-rise, double cone, company headquarters, BMW museum, building.central, exterior shot, building, high-rise, automaker, car, cars, automobiles, manufacturers, auto industry, premium brand. Â | usage worldwide | FrankHoermann/SVEN SIMON/DPA/PA Images

Herald International Financial Leasing, a subsidiary of German carmaker BMW, bagged a Rmb3bn ($425m) dual-tranche asset-backed note on Tuesday, its largest ABN outing yet. Both the senior tranches were priced 100bp tighter than the issuer’s last two outings.

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Topics

China Asia Greater China China Bonds Bank of China Northeast Asia China Asia Pacific Securitization ABS China Securitization Emerging Markets

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Rebecca Feng