BMW taps domestic funds with asset-backed debt
Print Edition
BMW said yesterday that it had placed asset-backed securities worth 800 million yuan (US$129 million) in China, a landmark deal that allows the German automaker to tap the domestic capital market.
The transaction marks the carmaker’s first asset-backed debt issue in the world’s largest car market.
“Given rising sales volumes in China, the transaction is an important step toward diversifying our refinancing basis in local currency,” BMW said in a statement.
As part of a broader reform push, China is easing restrictions on the flow of investment funds into and out of the country and is slowly opening up the yuan-denominated domestic market to overseas players.
Chinese and foreign companies have previously issued yuan-denominated “dim sum” bonds in Hong Kong in recent years. Unlike domestic bonds, dim sum issues are not subject to approval by Chinese regulators.
“We welcome the new opportunity and play a part in developing the securitization market in China,” BMW said.
The German automaker said the notes, which are backed by retail auto loans, were priced at 4.8 percent for the AAA-rated class-A notes and 8.09 percent for the A-rated class-B notes.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
