Bavarian Sky makes clean-up call for floating-, fixed-rate notes

By Sarah Lizee

Olympia, Wash., March 12 – Bavarian Sky SA exercised the clean-up call option for its €1 billion of class A floating-rate notes due 2023 and its €70 million of class B fixed-rate notes due 2023, according to a notice.

The notes will be redeemed on March 20 at par plus accrued interest and all claims of any creditors of the issuer relating to compartment German auto loans 4 ranking prior to the claims of the noteholders according to the applicable priority of payments.

Bavarian Sky is a Luxembourg-based debt-issuing vehicle that operates as a subsidiary of BMW Bank.

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