ABS

  • GAC-Sofinco scores record low pricing for ABS outing

    GAC-Sofinco scores record low pricing for ABS outing

    GAC-Sofinco Auto Finance priced a Rmb4bn ($564m) four-tranche auto loan ABS offering on Tuesday. The senior class A1 and A2 tranches were both sealed at coupons below 2%, setting a new record for Chinese auto ABS issuers.

  • GAC-Sofinco readies four-tranche auto ABS

    GAC-Sofinco readies four-tranche auto ABS

    GAC-Sofinco Auto Finance is returning to China's auto ABS market next Tuesday with a Rmb4bn ($564m) four-tranche offering. The automaker is set to take advantage of falling bond yields onshore to score tight pricing.

  • Coronavirus intensifies thirst for new responsible capitalism

    Coronavirus intensifies thirst for new responsible capitalism

    The Covid-19 pandemic is an ESG issue. More than ever before, a natural phenomenon is driving markets. Suddenly, social responsibility is no longer kooky but required of all. How are responsible investors reacting — and can the crisis lead to a better model of financial markets, where all stakeholders are considered?

  • BMW revisits Chinese ABN market, seals tight deal

    BMW revisits Chinese ABN market, seals tight deal

    Herald International Financial Leasing, a subsidiary of German carmaker BMW, bagged a Rmb3bn ($425m) dual-tranche asset-backed note on Tuesday, its largest ABN outing yet. Both the senior tranches were priced 100bp tighter than the issuer’s last two outings.

  • Mercedes-Benz uses rare revolver for auto ABS

    Mercedes-Benz uses rare revolver for auto ABS

    Mercedes-Benz Auto Finance broke an almost year-long break from the China auto ABS market this week with a Rmb6.316bn ($892m) deal. The company added a three month revolving period to its transaction, a rarity for issuers.

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