Fangda Partners represented BMW Group on its RMB2.5 billion panda bond offering
Tell others about this press release
The press releases published in this section have been uploaded by law firms. Their content has not been appraised or edited by Law.asia, and no responsibility is taken for the accuracy of the information they contain or any misrepresentation therein. For our independent editorial content, please visit our homepage.
Fangda Partners represented BMW Group on its RMB2.5 billion panda bond offering, which was closed on November 25, 2021. BMW Finance N.V., a Netherlands finance company of BMW, acts as the issuer, and its parent company, Bayerische Motoren Werke Aktiengesellschaft, provides unconditional and irrevocable guarantee for the bonds. The bonds consist of RMB1.5 billion 3-year medium-term notes (MTNs) and RMB1.0 billion 1-year commercial paper (CPs). The MTNs were priced at a coupon rate of 3.28% per annum and the CPs at 2.90% per annum. The bonds were offered to institutional investors in and outside China (including through the Bond Connect regime) on China’s interbank bond market. This is the third offering of MTNs under BMW’s RMB25.0 billion medium term notes issuance programme and the second offering of CPs under its RMB10.0 billion commercial paper issuance programme. Fangda, as the issuer’s counsel, drafted all the transaction documents in English and Chinese and advised BMW Group on all aspects of the transaction. The Fangda team on this deal was led by the partner Christine Chen with key members including Helen Zhao, Sophie Li and Hailey Ma. Leanne Liu and Sam Zhang provided support in deal execution.
Join our mailing list for legal news and alerts
Sign up