2015 IFLR Asia Awards was held on March 11, 2015 in Hong Kong, which was hosted by International Financial Law Review, the international famous legal publication.
Llinks advised Volkswagen's Auto-Loan Backed Securitization Deal in China, and the deal was awarded as the Securitization and Structured Finance Deal of the Year 2014 by the 2015 IFLR Asia Awards and one of the10 Best Credit Asset Securitization Deals at the Annual Conference of China Securitization Forum 2015.
Deal Introduction:
On July 21, 2014, Volkswagen Auto Finance launched its first auto-loan backed securitization in China and sold the notes thereunder to investors. The Driver China One asset-backed securitization notes were publicly issued for bid at the China inter-bank bond market with a price of approximately RMB 800 million. The product is part of the pilot ABS projects regulated by the China Banking Regulatory Commission and the People's Bank of China. Meanwhile, by issuing the product, Volkswagen Auto Finance (China) Co., Ltd. became one of the first auto finance companies wholly owned by foreign companies to enter into the domestic ABS market. As PRC legal counsel for Volkswagen Auto Finance, Llinks provided a full range of legal services for the deal.
