GAC-Sofinco prepares for auto ABS return

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By Addison Gong
06 Oct 2020

GAC-Sofinco Automobile Finance Co is readying a Rmb4bn ($589m) return to the auto loan asset-backed securities market, opting for the same structure as its last thinly priced deal.

The originator is a 50/50 joint venture between China’s Guangzhou Automobile Group and Crédit Agricole Consumer Finance. The latest deal will be GAC-Sofinco’s eighth ABS outing in the Mainland since 2017, and its second this year.

Bookbuilding for the upcoming transaction, Hui Ju Tong 2020-2, is scheduled ...

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