Securitization

Latest news on RMB and Securitization

  • China streamlines credit ABS registration

    China streamlines credit ABS registration

    China has announced a new registration system for credit asset-backed securitization (ABS), cutting the time it will take bankers and their clients to bring new deals to the market.

  • GAC-Sofinco prices China auto ABS return

    GAC-Sofinco prices China auto ABS return

    GAC-Sofinco priced a Rmb4bn ($564m) four-tranche auto loan asset-backed securitization (ABS) on Tuesday, venturing into the market despite rising onshore yields in a move that puts it ahead of an expected surge of supply in the last quarter of the year.

  • GAC-Sofinco prepares for auto ABS return

    GAC-Sofinco prepares for auto ABS return

    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.

  • China reforms NPL ABS as bad loans rise

    China reforms NPL ABS as bad loans rise

    The People’s Bank of China has started to allow banks seeking quotas to sell non-performing loan securitizations to shift from the old approval-based system to a registration-based system, onshore bankers told GlobalCapital China this week. The reform is set to speed up the pre-issuance phase and ease banks’ increasing pressure to dispose of bad loans.

  • Mercedes-Benz pierces through comparables in ABS return

    Mercedes-Benz pierces through comparables in ABS return

    Mercedes-Benz Auto Finance scored a tightly priced Rmb6.26bn ($914m) dual tranche auto securitization trade on Tuesday. The senior tranche was priced inside comparable levels, a first for the issuer and a rarity in China's auto ABS market.

  • Mercedes-Benz readies second auto ABS this year

    Mercedes-Benz readies second auto ABS this year

    Mercedes-Benz Auto Finance is planning to sell a Rmb6.26bn ($917m) dual tranche auto securitization transaction next week after a six-month break from the onshore market. The issuer has doubled the length of the revolving period compared to its previous outing.

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