Securitization

Latest news on RMB and Securitization

  • Auto trio kick off busy week for China ABS

    Auto trio kick off busy week for China ABS

    China’s auto loan ABS market reopened strongly in May after a quiet few weeks, with SAIC-GMAC Automotive Finance Co, Volkswagen Finance (China) Co and domestic originator FAW Auto Finance Co all looking to price deals this week.

  • 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.

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