First Malaysian auto loans ABS completed

Bumiputra Commerce Finance issues M$510 million and prices significantly through 2002 deals.

Bumiputra Commerce Finance BCF, the car hire purchase arm of Malaysia's second largest banking group Commerce Asset Holding, has completed the country's first securitization of auto loan receivables. Commerce International Merchant Bankers CIMB, itself a unit of Commerce Asset, acted as lead manager on the M$510 million $134.2 million transaction.

The deal, launched through the Auto ABS One special purpose vehicle, securitizes a pool of around M$545 million car loans.

In some ways it...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: first | malaysian | auto | loans | abs | completed

Print Edition

FinanceAsia Print Edition