BMW will Anleihen über 1,6 Milliarden USD begeben
(Quelle: Reuters)
BMW plans to offer $1.6 bln car loan-backed notes
NEW YORK, April 21 (Reuters) - German carmaker BMW plans to offer on Tuesday about $1.6 billion in asset-backed securities supported by car loans it made, a person familiar with the deal said on Monday.
Citigroup and Banc One Capital Markets are heading the deal's underwriting team that includes ABN AMRO, Banc of America Securities LLC and J.P. Morgan Securities, he said.
Following are the early terms and conditions of "BMW 2003-A" (subject to change):
****
Class A1
Issue Amount $380 million
Average Life 0.31 year
Spread Benchmark 4-month Libor
Ratings P1 (Moody's), A1-plus (S&P)
****
Class A2
Issue Amount $455 million
Average Life 1 year
Spread Benchmark eurodollar futures
Ratings Aaa (Moody's), AAA (S&P)
****
Class A3
Issue Amount $470 million
Average Life 2 years
Spread Benchmark 2-year interest rate swaps
Ratings Aaa (Moody's), AAA (S&P)
****
Class A4
Issue Amount $296.9 million
Average Life 3.11 years
Spread Benchmark Interpolated interest rate swaps
Ratings Aaa (Moody's), AAA (S&P)
****
Class A5
Issue Amount $32.7 million
Average Life 3.32 years
Spread Benchmark Interpolated interest rate swaps
Ratings A3 (Moody's), A (S&P)
****
