Mercedes-Benz sizes up first 2019 China auto ABS

Mercedes-Benz Auto Finance is on track to price its largest ABS trade under the Silver Arrow China series. The originator, having previously turned to Moody’s and Fitch for international ratings, switched to S&P and gained an AAA rating for its deal.

  • By Addison Gong
  • 17 Apr 2019

The size of the upcoming Silver Arrow China 2019-1 auto loan ABS, Rmb8.95bn, trumps Mercedes-Benz’s previous onshore auto ABS transactions, beating the records set in 2018. The originator debuted in China with a Rmb2.5bn deal three years ago.

The deal offers investors Rmb8.5bn in fixed ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 Bank of China (BOC) 21.85
2 China Merchants Securities Co 14.67
3 Industrial and Commercial Bank of China (ICBC) 14.44
4 Agricultural Bank of China (ABC) 8.89
5 China Securities 7.41

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 CITIC Securities 9,352.22 46 7.78%
2 Goldman Sachs 8,791.68 35 7.31%
3 Morgan Stanley 7,141.38 47 5.94%
4 China International Capital Corp Ltd 6,923.83 42 5.76%
5 UBS 6,281.96 46 5.23%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 21,623.09 187 8.54%
2 Citi 15,676.35 116 6.19%
3 JPMorgan 13,488.58 90 5.33%
4 Standard Chartered Bank 10,556.88 105 4.17%
5 Bank of America Merrill Lynch 9,701.88 75 3.83%

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