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Standard Chartered Bank and DBS Bank act as arrangers and swap providers in US$250 million BMW Korean auto loan and lease receivables securitization; receives "Deal of the Year" and "Best Cross-Border Securitisation" awards

December 2013

Client(s) Standard Chartered Bank and DBS Bank

Jones Day advised Standard Chartered Bank and DBS Bank in connection with the US$250 million securitization of Korean auto loans and lease receivables by BMW Financial Services Korea Co., Ltd. and the issuance of secured floating rate notes due 2019 in a Regulation S offering by Bavarian Sky Korean Auto Receivables 1 Pte. Ltd. This was the first securitization in Korea originated by BMW, the German automobile manufacturer. Jones Day also advised Citicorp International Limited as note trustees as to English law. This transaction was named "Securitisation and Structured Finance Deal of the Year" and "Best Cross-Border Securitisation" at the IFLR Asia Awards 2014 and The Asset Triple A Regional House and Deal Awards 2013, respectively.

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