Ford Automotive Finance (China) completes first ABS transaction in China

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 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," added Tran. We now have another funding tool to support their financing needs."

Posted in: ABS,Asia Pacific,China,Finance,Ford