Standard Bank assists BMW Finance in raising over ZAR12 billion
22 Aug 2022
Acting in its capacity as lead manager and dealer, Standard Bank facilitated a roadshow for BMW Finance and BMW Group to engage with the investor community, which resulted in the well supported public auction for SuperDrive’s bonds, evident in the oversubscription levels achieved across both notes on offer. The bank ran the transaction on the new, innovative digital bond market platform CreditConnect, which is a key component in the ongoing modernisation of investment banking and efforts to provide the best solutions to the market.
Standard Bank continues to support SuperDrive by providing a liquidity facility, in addition to being appointed as issuer/settlement agent, paying agent and back-up servicer, while our Global Markets colleagues provided support to SuperDrive by providing interest rate hedges.
The BMW Group and BMW Finance are instrumental in providing financial services to customers and driving growth in the form of job creation and GDP contribution. Additionally, the company will play a key role in developing the electric vehicle (EV) market in SA.