BMW prices rare Swiss Bavarian Sky auto ABS

02 May 2013

BMW priced a rare Swiss auto lease receivables asset-backed deal from its Bavarian Sky platform on Monday morning — the first ever public auto securitisation from Switzerland.

UBS and Credit Suisse were joint lead managers on the fixed rate deal, known as Bavarian Sky Europe SA Compartment 1 Switzerland. The class ‘A’ Sfr220.5m ($234.7m) tranche was priced with a mid-swaps plus 17bp spread and a fixed rate coupon of 0.313%. The class ‘A’ tranche is ...

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