BMW's China arm returns to ABS, shifts to revolver

Car 230x150
By Rebecca Feng
28 Nov 2018

BMW Automotive Finance returned to China's ABS market this week, raising Rmb4.5bn ($575m) from its second deal of the year. But the auto lender tweaked the structure this time, adding a revolving portion.

The originator sold the AAA rated Rmb3.5bn class A note at 3.75% and the AA+ rated Rmb480m class B note at 4.16%. Both tranches were priced at the lower end of the price range, which was 3.3%-4.3% and 3.9%-5.1% respectively, according to a notice filed with China ...

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