8 percent for the AAA rated class A notes and 8

The new BMW i8 plug in hybrid sports car is parked before the official delivery to the first customer in Munich June 5, 2014. REUTERS/Michaela Rehlerising sales volumes in China, the transaction is an important step toward diversifying our refinancing basis in local currency, BMW said in a statement.As part of a broader reform push, Beijing is easing restrictions on the flow of investment funds into and out of the country and is slowly opening up the yuan denominated domestic market to outside players.Chinese and foreign firms have previously issued yuan denominated sum bonds in Hong Kong in recent years. Unlike domestic bonds, dim sum issues are not subject to approval by Chinese regulators.welcome the new opportunity and play a part in developing the securitisation market in China, BMW said.BMW said the notes, which are backed by retail auto loans, were priced at 4.8 percent for the AAA rated class A notes and 8.09 percent for the A rated class B notes.The auto loan ABS was placed through BMW Chinese financial services subsidiary BMW Automotive Finance (China).

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