BMW S.African securitisation issue oversubsribed


JOHANNESBURG, Nov 28 (Reuters) - BMW Financial Services' latest one billion rand ($156.1 million) auto loan securitisation issue was 2-1/2 times oversubscribed, manager Rand Merchant Bank (RMB) said on Friday. Like the first issue of the same value three months ago, which was four times oversubscribed, the notes auctioned on Friday were rated Aaa by ratings agency Moody's, RMB said in a statement. Securitisation is becoming an increasingly popular way for South African firms to raise ...

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