Three auto issuers set off early to avoid traffic

Paris At Dawn
By Nigel Owen
17 May 2018

The first two days of this week saw more than €10bn of bond issuance, with more than a quarter of that volume made up of three deals sold by auto finance issuers. All three deals managed to achieve new issue premiums of 10bp or less, which was tighter than the majority of deals the week before.

BMW Finance had to pay new issue premiums of around 8bp-10bp but saw strong demand as it sold a €1.75bn 4.5 and eight year dual tranche offering.

Daimler and Ford had brought deals in the first two weeks of May, and BMW was close behind when it ...

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