White & Case Advises Underwriters on €1.75 Billion Dual Tranche Bond Issue by BMW Finance
Global law firm White & Case LLP has advised a bank consortium consisting of BNP Paribas, Credit Suisse Securities (Europe) Limited, ING Bank N.V., MUFG Securities EMEA plc and Skandinaviska Enskilda Banken AB (publ) on a €1.75 billion dual tranche bond issue by BMW Finance N.V.
With a principal amount of €1 billion, the first tranche has a term of 3.25 years (2021) and a fixed coupon of 0.125%. With a principal amount of €750 million, the second tranche has a term of seven years (2025) and a fixed coupon of 1.000%. Both tranches are guaranteed by Bayerische Motoren Werke Aktiengesellschaft. The bonds will be admitted to trading on the regulated market of the Luxembourg stock exchange.
The White & Case team in Frankfurt which advised on the transaction included partner Jochen Artzinger-Bolten and associate Philipp Kronenbitter.
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