Bond Connect debuts auto ABS

Category: ABS


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Ford Automotive Finance (China) (FAFC) has launched the first securitisation utilising Bond Connect, which allows offshore investors to participate in China's inter-bank bond market. The RMB3.77bn Fuyuan 2017-2 auto loan ABS is also noteworthy for being rated by two domestic and two international rating agencies.

A China Foreign Exchange Trade System/HKEX joint venture, the Bond Connect platform was established last month under the central bank's 'Interim Measures for the Connection and Cooperation between the Mainland and the Hong Kong Bond Market' as a mutual market access scheme in respect of trading, custody and settlement.

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