Securitization

Latest news on RMB and Securitization

  • BMW opts for simple structure for new auto lease ABN

    BMW opts for simple structure for new auto lease ABN

    China-based Herald International Financial Leasing Co, a unit of BMW Group, has returned to the onshore securitization market. It switched to a straightforward two-tranche structure for the Rmb3bn ($461m) auto lease asset backed notes (ABN), pricing the senior tranche at a competitive spread.

  • Dongfeng Peugeot drives into ABS market on sales rebound

    Dongfeng Peugeot drives into ABS market on sales rebound

    Dongfeng Peugeot Citroen Auto Finance Co made its first appearance in China’s auto loan ABS market since 2017 this week, sealing a Rmb2.201bn ($336m) deal amid rising demand for proprietary brand vehicles after a plunge in sales in recent years.

  • Dongfeng Peugeot returns to China ABS after hiatus

    Dongfeng Peugeot returns to China ABS after hiatus

    Dongfeng Peugeot Citroen Auto Finance Co is set to come to China’s auto ABS market for the first time since 2017 with a Rmb2.201bn ($336m) transaction that will be launched later this week.

  • Dongfeng Nissan parks new ABS amid yield fall

    Dongfeng Nissan parks new ABS amid yield fall

    Dongfeng Nissan Auto Finance Co came to China’s ABS market this week with a Rmb4.41bn ($673m) auto loan deal under the Vinz series, taking advantage of a recent decline in onshore yields.

  • FAF squeezes pricing with internationally rated ABS

    FAF squeezes pricing with internationally rated ABS

    China’s Fortune Auto Finance Co launched its first internationally rated auto loan ABS transaction this week, pricing the senior portion of the Rmb2.5bn ($381.5m) deal at a competitive spread.

  • FAF, Dongfeng Nissan prep new auto deals

    FAF, Dongfeng Nissan prep new auto deals

    China-based Fortune Auto Finance Co will launch a Rmb2.5bn ($381.5m) auto loan ABS transaction next week, the company’s first deal with an international rating. Meanwhile, Dongfeng Nissan Auto Finance Co is returning to the onshore market with a larger Rmb4.4bn trade.

  • Mercedes seals revolver at tight spread

    Mercedes seals revolver at tight spread

    Mercedes-Benz Auto Finance has priced the senior tranche of its Rmb8.337bn ($1.28bn) auto loan ABS deal in China at an aggressive spread over the onshore benchmark and comparable trades.

  • Ford prices first 2021 ABS deal, Merc readies return

    Ford prices first 2021 ABS deal, Merc readies return

    Ford Automotive Finance (China) has wrapped up a Rmb3.203bn ($492.3m) auto loan ABS deal, its first outing in the domestic Chinese market this year. Mercedes-Benz Auto Finance is also looking to make its first appearance of 2021 next week.

  • Genius pierces through comparables in first 2021 deal

    Genius pierces through comparables in first 2021 deal

    Genius Auto Finance Co priced its first auto ABS outing of the year under the Generation series on Thursday. It sold the senior class A1 tranche of the Rmb4.7bn ($726.8m) transaction at a negative spread to the onshore pricing benchmark and inside a comparable trade from this week.

  • Toyota sets high bar for China’s ABS market in Year of the Ox

    Toyota sets high bar for China’s ABS market in Year of the Ox

    Toyota Motor Finance (China) Co has sealed the senior tranches of its auto ABS deal at negative spreads to onshore benchmarks thanks to strong backing from Japanese investors, putting the post-Chinese New Year securitization market on strong footing.

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