Date
20 September 2017
Volkswagen is planning the first securitisation backed by Chinese automotive loan receivables that have international ratings. Photo: Bloomberg
Volkswagen is planning the first securitisation backed by Chinese automotive loan receivables that have international ratings. Photo: Bloomberg

VW plans yuan-denominated asset-backed securities

Volkswagen AG plans to issue about 800 million yuan (US$128 million) of asset-backed securities in China as soon as this month, Bloomberg reported Wednesday.

The securitised notes, due August 2020, are backed by automotive loan receivables originated by Volkswagen Financial (China) Co., a unit of Volkswagen Financial Services AG, the report said, citing Fitch Ratings Ltd.

It’s the first securitisation backed by Chinese automotive loan receivables that have international ratings, the report said. 

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