News Column

Ford Automotive Finance (China) Completes First ABS Transaction in China

May 27, 2014



SHANGHAI--(BUSINESS WIRE)-- Ford Automotive Finance (China), Ford Motor Credit Company’s subsidiary in China, has completed its first asset-backed securitization (ABS) in China to support the financing of Ford-brand vehicle sales. Ford Automotive Finance (China) is the first wholly foreign-owned auto finance company to complete an ABS transaction – for 800 million renminbi – in China under the most recent ABS pilot program governed by the China Banking Regulatory Commission and the People’s Bank of China.

“This is a significant transaction, as it helps increase our access to the capital markets in China in support of the One Ford growth plan,” said Nu Tran, president of Ford Credit Asia Pacific. “It also supports our global strategy of funding diversification and funding our business locally.”

Ford Credit is an experienced issuer of ABS. It has been securitizing assets since 1989 and has public and private programs in the United States, Europe, Canada, Mexico and, now, China.

“Ford Automotive Finance (China) is adding both dealers and retail customers quickly in China, and we will support Lincoln when the brand arrives later this year,” Tran said. “We now have another funding tool to support their financing needs.”

Ford Credit’s subsidiary in China began operations in 2005. It provides wholesale financing for more than 400 dealers and retail financing through nearly 500 Ford dealerships in 290 cities across China.

The offering circular for Fuyuan 2014-1 Retail Auto Mortgage Loan Securitization Trust is available on the Ford Credit investor center website. Related investor reports also will be on the site.

# # #

About Ford Motor Credit Company

Ford Motor Credit Company LLC has provided dealer and customer financing to support the sale of Ford Motor Company products since 1959. Ford Credit is a wholly owned subsidiary of Ford. Ford Automotive Finance (China), a Ford Credit subsidiary, has supported Ford sales in China since 2005. For more information, visit www.fordcredit.com or www.lincolnafs.com.




Ford Credit

Margaret Mellott

Communications

313.322.5393

mmellott@ford.com

or

Ford Automotive Finance (China)

Ida Chen

Communications

86.21.20894355

ychen259@ford.com


Source: Ford Motor Credit Company


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Business Wire


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters