BMW gears up for Rmb2.5bn auto lease ABN

BMW
By Addison Gong
15 Apr 2019

BMW Automotive Finance (China) is on track to launch its debut auto lease receivables-backed securitization. The company is expecting to close the Rmb2.5bn ($373m) Bavarian Sky China Leasing 2019-1 asset backed note later this week.

The three-tranche fixed rate transaction comprises a Rmb1.98bn ($295.3m) class A senior note with a weighted average life of 0.78 years, and a Rmb215m class B note with a 1.81-year average life.

The tranches are expected to have annualised returns of 4.2% and 4.6%, according to the ...

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