VW China repeats winning formula with new ABS

Having sealed the largest deal in its Driver China series in May, Volkswagen Finance (China) decided it wanted to raise more from China’s securitization market. The originator stuck to a similar deal structure on September 7, taking home Rmb3.66bn ($569.7m).

  • By Noah Sin
  • 08 Sep 2017

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GlobalRMB Panda Bonds league table

Rank Arranger Share % by Volume
1 Bank of China (BOC) 28.78
2 CITIC Securities 22.01
3 China CITIC Bank Corp 10.16
4 Industrial and Commercial Bank of China (ICBC) 7.90
4 Everbright Securities 7.90

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 19-Sep-17 Skyworth Digital Holdings China 2,000
2 14-Sep-17 Bank of China (Hong Kong) (BOCHK) China 9,000
3 05-Sep-17 Joy City China 1,000
4 01-Sep-17 Rusal Russian Federation 500
5 23-Aug-17 Daimler Germany 5,000

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 JP Morgan 38.18
2 Standard Chartered Bank 23.18
3 Barclays 7.73
3 Citi 7.73
3 HSBC 7.73

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 22-Sep-17 Royal Bank of Canada Canada 900
2 01-Jun-17 Ocean Wealth (Parent: China Orient Asset Management) China 632
3 11-Apr-17 Bank of China Johannesburg Branch (BOC Johannesburg) China 1,500
4 22-Feb-17 Ocean Wealth (Parent: China Orient Asset Management) China 850
5 28-Nov-16 Loncin Holdings China 800