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
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.
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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
Automotive Finance (China)
Source: Ford Motor Credit Company