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Bavarian Sky S.A., Compartment 3 Reporting Date 11.02.2013
Monthly Investor Report Payment Date 15.02.2013
Period No 7
Cover sheet monthly investor report Monthly Period Jan 2013
Interest Period from 15.01.2013 to 15.02.2013 = 31 days
Index
1. Contact Information
2. Reporting Contact Details
3. Counterparty History
4. Overview Dates
5. Deal Level Tests & Trigger
6. Portfolio Information
7. Cash Reserve_Repl Fund
8. Performance Data
9. Defaulted Amount & Recovery
10. Outstanding Notes Balance
11. Original Principal Balance
11.a Original Principal Balance (graph)
12. Current Aggregate Balance and LTV
12.a Current Aggregate (graph)
13. Borrower Concentration
14. Geographical Distribution
14.a Geographical Distribution (graph)
15. Object Type
16. Delinquencies
16.a Delinquencies Analysis
17. Seasoning
17.a Seasoning (graph)
18. Remaining Term
18.a Remaining Term (graph)
19. Original Term
19.a Original Term (graph)
20. Vehicle Class
21. Type of Payment
22. Contract per Lessee
23. Replenishment Conditions
24. Amortisation
25. Priority of Payments
26 . Transaction Costs
27. Ratings
28. Swap Counterparty Data
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 1 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
1. Contact Information Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
Transaction Party:
Issuer: BAVARIAN SKY S.A., ACTING IN RESPECT OF ITS COMPARTMENT 3
9B, Boulevard Prince Henri
L-1724 Luxembourg
Luxembourg
SFM Directors
+352 2020 4100
Corporate Administrator: STRUCTURED FINANCE MANAGEMENT (LUXEMBOURG)
9B, Boulevard Prince Henri
L-1724 Luxembourg
Luxembourg
SFM Directors Martijn Damste Christie Cleuet/Tania Ramos
[email protected] [email protected] [email protected]
+352 2020 4100 +352 2020 4133 [email protected]
+352 2020 4125/4126 (Fax) +352 2020 4131 / 4134
Originator / Servicer: BMW BANK GMBH
Heidemannstrasse 164
80939 Munich
Germany
Dietrich, Daniel Demmer, Lucia Treasury
[email protected] [email protected] [email protected]
+ 49 89 3484 2876 + 49 89 3184 2849
Paying Agent / Calculation Agent / Interest BNP PARIBAS SECURITIES SERVICES, LUXEMBOURG BRANCH
Determination Agent: 33, rue de Gasperich,
Howald - Hesperange
L - 2085 Luxembourg
Emmanuel Gerard Alain Hammann Fax:
[email protected] [email protected] +352 2696 9757 (Paying/Interest Det. Agent)
+352 2696 2782 +352 2696 62947 +352 2696 9758 (Calculation Agent)
Issuer Account Bank / Data Trustee BNP PARIBAS SECURITIES SERVICES, FRANKFURT BRANCH
Europa-Allee 12
D-60327 Frankfurt am Main
GermanyFrank [email protected]+49 69 1520 5666 (Phone) / +49 69 1520 5277 (Fax)
Trustee: BNP PARIBAS TRUST CORPORATION UK LIMITED55 Moorgate London EC2R 6PA United KingdomJo Faragher Dipesh [email protected] [email protected] [email protected]+44 20 7595 3398 +44 20 7595 3558 +44 20 7595 5078 (Fax)
Swap Counterparty: DZ BANK AG DEUTSCHE ZENTRAL-GENOSSENSCHAFTSBANKPlatz der Republik60265 [email protected]
Rating Agencies: Fitch Deutschland GmbH, Taunusanlage 1760325 [email protected]
Standard & Poor’s Credit Market Services Europe LimitedAttn: European ABS Surveillance20 Canada SquareCanary WharfLondon, United Kingdom E14 [email protected]
DBRS Inc.140 BroadwayNew York, NY [email protected]
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 2 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
2. Reporting Contact Details Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
Contact for Servicer Report (Portfolio related information in Investor Report)
Contact for Investor Report BMW BANK GMBH
Heidemannstrasse 164
80939 Munich
Germany
Dietrich, Daniel Demmer, Lucia Treasury
[email protected] [email protected] [email protected]
+ 49 89 3484 2876 + 49 89 3184 2849
Calculation Agent: BNP PARIBAS SECURITIES SERVICES, LUXEMBOURG BRANCH
(acting in the role of Calculation Agent)
33, rue de Gasperich,
Howald - Hesperange
L - 2085 Luxembourg
Emmanuel Gerard Alain Hammann
[email protected] [email protected]
+352 2696 2782 +352 2696 62947
Fax +352 2696 9758
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 3 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
3. Counterparty History Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
Replacement Party to be added if applicable
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 4 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
4. Overview Dates Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
Initial Cut-Off Date: 30.06.2012 Revolving Period End Date (excluding): 15.08.2013
Issue Date 18.07.2012 Legal Maturity Date: 15.07.2020
Reporting Date 11.02.2013
Investor Reporting Date: 13.02.2013
Interest Determination Date 11.01.2013
Reporting Frequency: monthly
Monthly Period No.: 7 (since Issue Date)
Payment Date: 15.02.2013
Next Payment Date 15.03.2013
Monthly Period: 01.01.2013 until 31.01.2013
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 5 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
5. Deal Level Tests & Trigger Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
Outstanding receivables in EUR
"Early Amortisation Event" means the occurrence of any of the following event during the Revolving
Period: Trigger Value Actual Value Trigger Breached
(a) as of any Cut-Off Date, the Cumulative Net Loss Ratio exceeds 0,40% 0,04% no
(b) the occurrence of an Enforcement Event; yes no no
(c) on two consecutive Cut-Off Dates, the amount deposited in the Replenishment
Fund exceeds 10% of the Aggregate Discounted Lease Balance; 10% 0,00% no
(d) if after application of the Available Distribution Amount in accordance with the Pre-
Enforcement Priority of Payments on the Reporting Date of the immediately following Payment
Date, the Replenishment Fund under item eight would be lower than the Replenishment
Available Amount; yes no no
(e) the Swap Agreement has been terminated; or yes no no
(f) the occurrence of a Servicer Termination Event; or yes no no
(g) an Insolvency Event has occurred to the Seller or Servicer; yes no no
Page 6 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
6. Portfolio Information Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
current period previous period
Outstanding receivables in EURAggregate discounted
lease balance
Aggregate discounted
lease balance
Beginning of period in EUR 799.999.494,99 799.999.691,81
Scheduled principal payments in EUR 39.469.953,02 38.095.942,89
Prepayments* principal in EUR 1.879.968,04 1.913.840,68
Prepayments* number of contracts 404 379
Repurchases* principal in EUR 1.876.286,03 1.448.105,13
Repurchases* number of contracts 240 185
Total principal collections in EUR 43.226.207,09 41.457.888,70
Total interest collections in EUR 2.650.086,61 2.643.943,72
Defaulted Amounts in EUR 91.150,40 81.305,58
Pro Rata Share of any recovery proceeds 158.352,55 128.036,85
Additional Lease Receivables amount in EUR 43.317.120,64 41.538.997,46
End of Period in EUR 799.999.258,14 799.999.494,99
Current prepayment rate (annualised) in % 5,63% 5,04%
* Prepayments are defined as all contracts that are repurchases due to early settlement and repurchases are defined as all contracts that are repurchased due to modification of contract.
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 7 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
7. Cash Reserve / Replenishment Fund Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
Aggregate outstanding notes balance
Initial outstanding notes balance in EUR 800.000.000,00
Cash reserve in % in EUR
Outstanding cash reserve beginning of period 5,50% 44.000.000,00
Interest on cash reserve - previous period -
Required cash reserve 44.000.000,00
Outstanding cash reserve end of period 44.000.000,00
Replenishment fund in EUR
Outstanding replenishment fund beginning of period 505,01
Interest on replenishment fund - previous period -
Additional Lease Receivables 43.317.120,64
Outstanding replenishment fund end of period 741,86
Indemnity & Commingling Reserve in EUR
Outstanding indemnity reserve end of period 4.000.000,00
Set Off Risk Reserve -
Outstanding commingling reserve end of period 89.978.126,12
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 8 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
8. Performance Data Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
Aggregate outstanding notes balance
Beginning of period in EUR 800.000.000,00
End of period in EUR 800.000.000,00
Ratios in EUR
current ratio /
3-MRA*
3-MRA* 31- 60 days past due n/a
31- 60 days past due period before previous period 1.166.050,25 0,15%
31- 60 days past due previous period 1.285.779,14 0,16%
31- 60 days past due current period 1.259.191,84 0,16%
3-MRA* 61- 90 days past due n/a
61- 90 days past due period before previous period 756.103,42 0,09%
61- 90 days past due previous period 715.475,99 0,09%
61- 90 days past due current period 792.496,32 0,10%
Cumulative net loss ratio Current ratio Trigger
Jul 2012 - Jan 2013 0,03% 0,40%
Feb 2013 - Jul 2013 n/a 0,80%
Set Off Risk Current ratio Trigger **
Jul 2012 - Final Legal Maturity Date 0,00% 1,00%
Performance data
Number of contracts being 31 - 60 days delinquent 137
Number of contracts being 61 - 90 days delinquent 78
Balance in EUR of contracts being 31 - 60 days delinquent 1.259.191,84
Balance in EUR of contracts being 61 - 90 days delinquent 792.496,32
Defaulted amounts in EUR 91.150,40
Cumulative defaulted amounts in EUR 393.545,23
Recoveries in EUR -
Cumulative recoveries in EUR 46.162,68
* 3-MRA stands for three months rolling average
No
Trigger breach
No
Trigger breach
No
** Breach of this trigger in conjunction of any other event as set out in 13.3 of the Servicing Agreement will oblige BMW Bank GmbH to post additional cash collateral equal to the potential set-off risk. The Set-Off Risk Reserve will be adjusted on a monthly basis and shall be deposited in the Issuer Account-C3 and is exclusively reserved to cover set-off risks.
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 9 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
Collection Period
Number of Defaulted
Agreements in
Collection Period
Defaulted Amount in
Collection Period
Aggregate Defaulted Amount
since Initial Cut-Off Date
Purchased Amount of
New Receivables
Aggreagte Amount of
Purchased Receivables
Cumulative Net
Loss Ratio
Recovery Amount in
Collection Period
Cumulative Recovery
Amount
Cumulative Recovery
Rate
Jun 12 0 0 n/a n/a 799.999.252 799.999.252 n/a n/a n/a
Jul 12 1 0 0,00 0,00 33.750.708 833.749.959 0,00% 0,00 0,00
Aug 12 2 2 9.279,40 9.279,40 35.061.650 868.811.610 0,00% 0,00 0,00 0,00%
Sep 12 3 13 50.722,58 60.001,98 36.402.438 905.214.047 0,01% 0,00 0,00 0,00%
Okt 12 4 13 35.940,75 95.942,73 38.697.654 943.911.701 0,01% 5.785,65 5.785,65 6,03%
Nov 12 5 22 125.146,52 221.089,25 40.119.133 984.030.834 0,02% 40.377,03 46.162,68 20,88%
Dez 12 6 29 81.305,58 302.394,83 41.538.997 1.025.569.832 0,03% 0,00 46.162,68 15,27%
Jan 13 7 19 91.150,40 393.545,23 43.317.121 1.068.886.952 0,04% 0,00 46.162,68 11,73%
9. Defaulted Amount & Recovery Amount
(as at end of Monthly Period)
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 10 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
10. Outstanding Notes Balance Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
1. Note balance All notes Class A Class BInitial note information
ISIN code XS0789919767 XS0789930145
Currency EUR EUR
Legal final maturity Jul 2020 Jul 2020
Rating of Notes (DBRS/Fitch/S&P) AAA / AAA /AAA A (high)/ AA-/A+
Initial notes aggregate principal outstanding balance in EUR 800.000.000,00 769.600.000,00 30.400.000,00
Nominal amount per note in EUR 100.000,00 100.000,00
Initial number of notes per class in EUR 7.696 304
Current note information
Notes aggregate principal outstanding balance in EUR - BoP 800.000.000,00 769.600.000,00 30.400.000,00
Available distribution amount in EUR 89.876.798,71
Additional purchase price 43.317.120,64
Redemption per class in EUR 0,00 0,00
Redemption per note in EUR 0,00 0,00
Notes aggregate principal outstanding balance in EUR - EoP 800.000.000,00 769.600.000,00 30.400.000,00
Current pool factor 1,00 1,00
2. Payments to investor per note All notes Class A Class BInterest rate basis: 1-M Euribor / spread 0,111% 0,48% 1,23%
Day count fraction act/360 act/360
Interest days 31 days 31 days
Principal outstanding per note in EUR - BoP 100.000,00 100.000,00
Principal repayment per note in EUR 0,00 0,00
Principal outstanding per note in EUR - EoP 100.000,00 100.000,00
Interest payment per Note in EUR 50,89 115,48
3. Credit enhancement Initial period Initial CE Current period
Class A 769.600.000,00 9,30% 769.600.000,00
Class B 30.400.000,00 5,50% 30.400.000,00
Cash reserve 44.000.000,00 0,00% 44.000.000,00
4. Clean-Up Call OptionIf the aggregate discounted lease balance has been reduced to less than 10 % of the aggregate discounted lease balance at the last purchase date, the
seller will have the option under the lease receivables purchase Agreement to acquire all outstanding purchased leases receivables.
Aggregate discounted lease balance as at most recent purchase date
Clean-Up option exercisable
799.999.258,14
No
Current CE
9,30%
5,50%
0,00%
* Minimum retention of 5% (according to option (d) of paragraph 1 in § 122a CRD- first loss piece) by BMW Bank GmbH according to § 122a CRD. BMW Bank GmbH has confirmed to the Issuer that it continues to
provide the Subordinated Loan (funding the non-amortising cash reserve in full) to the Issuer as at the end of the Collection period to which this report relates.
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 11 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
11. Original aggregate lease balance Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
Initial Portfolio
group in EUR
original aggregate
lease balance
in EUR
original aggregate
lease balance
in percent of total
number
of contracts
number of contracts
in percent of total
0 - 5,000 1.348.136,81 0,12% 375 0,52%
5,000 - 10,000 71.702.274,11 6,16% 9.485 13,20%
10,000 - 15,000 239.387.365,41 20,56% 20.030 27,88%
15,000 - 20,000 335.690.168,97 28,84% 20.599 28,67%
20,000 - 25,000 251.850.569,16 21,63% 12.105 16,85%
25,000 - 30,000 128.508.347,17 11,04% 5.032 7,00%
30,000 - 35,000 83.866.900,94 7,20% 2.808 3,91%
35,000 - 40,000 33.719.406,26 2,90% 977 1,36%
40,000 - 45,000 11.414.978,69 0,98% 294 0,41%
45,000 - 50,000 4.292.742,37 0,37% 99 0,14%
50,000 - 55,000 1.002.211,52 0,09% 21 0,03%
55,000 - 60,000 632.757,93 0,05% 12 0,02% > 60,000 742.024,72 0,06% 10 0,01%
Total 1.164.157.884,06 100% 71.847 100%
WA: 16.203,29
Min: 1.064,27
Max: 95.856,48
Portfolio as of: 31. Jan. 13
group in EUR
original aggregate
lease balance
in EUR
original aggregate
lease balance
in percent of total
number
of contracts
number of contracts
in percent of total
0 - 5,000 3.360.907,51 0,23% 868 0,93%
5,000 - 10,000 141.343.880,29 9,67% 18.753 20,02%
10,000 - 15,000 308.789.378,40 21,12% 26.361 28,14%
15,000 - 20,000 361.612.325,24 24,73% 22.180 23,67%
20,000 - 25,000 273.709.713,65 18,72% 13.153 14,04%
25,000 - 30,000 154.755.498,59 10,58% 6.063 6,47%
30,000 - 35,000 97.954.422,65 6,70% 3.275 3,50%
35,000 - 40,000 53.676.687,95 3,67% 1.543 1,65%
40,000 - 45,000 28.294.641,89 1,93% 717 0,77%
45,000 - 50,000 16.551.466,65 1,13% 375 0,40%
50,000 - 55,000 8.766.490,53 0,60% 179 0,19%
55,000 - 60,000 5.207.136,82 0,36% 97 0,10%
> 60,000 8.275.567,32 0,57% 123 0,13%
Total 1.462.298.117,49 100% 93.687 100%
WA: 15.608,34
Min: 748,79
Max: 176.813,09
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 12 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
11.a Original aggregate lease balance (graph) Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
0
50.000.000
100.000.000
150.000.000
200.000.000
250.000.000
300.000.000
350.000.000
400.000.000
0 - 5,000
5,000 - 10,000
10,000 - 15,000
15,000 - 20,000
20,000 - 25,000
25,000 - 30,000
30,000 - 35,000
35,000 - 40,000
40,000 - 45,000
45,000 - 50,000
50,000 - 55,000
55,000 - 60,000
> 60,000
ori
gin
al ag
gre
gate
lease b
ala
nce
group in EUR
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 13 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
12. Current aggregate discounted lease balance Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
group in EUR
current aggregate
discounted lease
balance
in EUR
current aggregate
discounted lease
balance
in percent of total
number
of contracts*
number of contracts
in percent of total
0 - 5,000 89.057.932,80 11,13% 34.360 36,42%
5,000 - 10,000 225.843.773,48 28,23% 30.845 32,69%
10,000 - 15,000 191.431.624,88 23,93% 15.688 16,63%
15,000 - 20,000 124.412.038,11 15,55% 7.284 7,72%
20,000 - 25,000 71.152.371,11 8,89% 3.232 3,43%
25,000 - 30,000 33.328.268,98 4,17% 1.219 1,29%
30,000 - 35,000 27.086.743,85 3,39% 842 0,89%
35,000 - 40,000 16.290.922,66 2,04% 437 0,46%
40,000 - 45,000 9.034.801,78 1,13% 214 0,23%
45,000 - 50,000 5.103.105,89 0,64% 108 0,11%
50,000 - 55,000 3.230.294,83 0,40% 62 0,07%
55,000 - 60,000 1.384.709,20 0,17% 24 0,03%
> 60,000 2.642.670,57 0,33% 37 0,04%
Total 799.999.258,14 100% 94.352 100%
WA: 8.414,76
Min: 64,73
Max: 159.829,65
*including 665 contracts that have been fully repaid in the current period
12.a. Loan to Value
Distribution by Original
LTV (%)
aggregate
discounted lease
balance
in EUR
aggregate
discounted lease
balance
in percent of total
number
of contracts
number of contracts
in percent of total
< 55 200.784,13 0,03% 59 0,06%
> 55 - 65 3.109.568,75 0,39% 823 0,87%
> 65 - 75 17.637.920,92 2,20% 3.923 4,16%> 75 - 85 65.882.360,65 8,24% 11.591 12,28%
> 85 - 95 119.997.727,79 15,00% 15.983 16,94%
> 95 - 105 593.146.682,27 74,14% 61.950 65,66%
> 105 24.213,63 0,00% 23 0,02%
Total 799.999.258,14 100% 94.352 100%
WA: 94,82%
Min: 40,14%
Max: 116,49%
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 14 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
12.a Current aggregate discounted lease balance (graph) Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
0
50.000.000
100.000.000
150.000.000
200.000.000
250.000.000
0 - 5,000
5,000 - 10,000
10,000 - 15,000
15,000 - 20,000
20,000 - 25,000
25,000 - 30,000
30,000 - 35,000
35,000 - 40,000
40,000 - 45,000
45,000 - 50,000
50,000 - 55,000
55,000 - 60,000
> 60,000
Cu
rren
t ag
gre
gate
dis
co
un
ted
lease
group in EUR
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 15 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
13. Concentration by lessee Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
group in EUR
current aggregate
discounted lease
balance
in EUR
current aggregate
discounted lease
balance
in percent of total
number
of contracts*
number of contracts
in percent of total
1 410.201,70 0,05% 61 0,06%
2 316.957,15 0,04% 31 0,03% 3 299.890,20 0,04% 40 0,04%
4 269.238,07 0,03% 39 0,04%
5 268.405,30 0,03% 25 0,03%
6 240.183,25 0,03% 24 0,03%
7 233.398,86 0,03% 15 0,02%
8 218.507,63 0,03% 61 0,06%
9 214.741,68 0,03% 25 0,03%
10 199.453,62 0,02% 50 0,05%11 191.007,59 0,02% 9 0,01%
12 189.499,60 0,02% 18 0,02%
13 184.628,22 0,02% 20 0,02%
14 183.207,88 0,02% 15 0,02%
15 182.552,92 0,02% 18 0,02%
16 181.377,05 0,02% 17 0,02%
17 174.272,34 0,02% 14 0,01%
18 163.100,67 0,02% 14 0,01%
19 161.441,53 0,02% 10 0,01%
20 159.829,65 0,02% 1 0,00%
Total 4.441.894,91 0,56% 507 0,54%
799.999.258,14Total Portfolio Balance
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 16 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
14. Geographical distribution Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
Initial Portfolio
poste code area
aggregate discounted
lase balance
in EUR
aggregate
discounted lease
balance
in percent of total
number
of contracts
number of contracts
in percent of total
post code area 0 36.724.575,09 4,59% 3.409 4,74%
post code area 1 39.959.297,47 4,99% 3.728 5,19%
post code area 2 71.635.510,28 8,95% 6.442 8,97%post code area 3 69.076.896,89 8,63% 6.387 8,89%
post code area 4 95.240.214,84 11,91% 8.409 11,70%
post code area 5 89.861.014,90 11,23% 7.824 10,89%
post code area 6 104.215.763,23 13,03% 9.512 13,24%
post code area 7 97.418.526,98 12,18% 8.553 11,90%
post code area 8 120.759.912,70 15,10% 10.852 15,10%
post code area 9 75.107.539,30 9,39% 6.731 9,37%
total 799.999.251,68 100% 71.847 100%
Portfolio as of: 31. Jan. 13
poste code area
current aggregate
discounted lease
balance
in EUR
current aggregate
discounted lease
balance
in percent of total
number
of contracts*
number of contracts
in percent of total
post code area 0 36.954.007,20 4,62% 4.496 4,77%
post code area 1 40.595.740,49 5,07% 5.029 5,33%
post code area 2 72.940.070,06 9,12% 8.545 9,06%
post code area 3 69.434.438,37 8,68% 8.499 9,01%
post code area 4 94.853.114,36 11,86% 10.942 11,60%post code area 5 88.481.081,23 11,06% 9.996 10,59%
post code area 6 103.954.448,03 12,99% 12.571 13,32%
post code area 7 97.772.743,33 12,22% 11.216 11,89%
post code area 8 121.371.038,25 15,17% 14.306 15,16%
post code area 9 73.642.576,82 9,21% 8.752 9,28%
total 799.999.258,14 100% 94.352 100%
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 17 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
14.a Geographical distribution (graph) Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
0
20.000.000
40.000.000
60.000.000
80.000.000
100.000.000
120.000.000
140.000.000
post code area 0 post code area 1 post code area 2 post code area 3 post code area 4 post code area 5 post code area 6 post code area 7 post code area 8 post code area 9
Cu
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BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 18 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
15. Object type Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
Initial Portfolio
car type
aggregate discounted
lease balance
in EUR
aggregate
discounted lease
balance
in percent of total
number
of contracts
number of contracts
in percent of total
new cars** 723.811.038,16 90,48% 64.297 89,49%
used cars 76.188.213,52 9,52% 7.550 10,51%
total 799.999.251,68 100% 71.847 100%
** include, for the avoidance of doubt, demonstration cars
customer group
aggregate discounted
lease balance
in EUR
aggregate
discounted lease
balance
in percent of total
number
of contracts
number of contracts
in percent of total
private individual 131.793.281,03 16,47% 17.586 24,48%
commercial 668.205.970,65 83,53% 54.261 75,52%
total 799.999.251,68 100% 71.847 100%
Portfolio as of: 31. Jan. 13
car type
current aggregate
discounted lease
balance
in EUR
current aggregate
discounted lease
balance
in percent of total
number
of contracts*
number of contracts
in percent of total
new cars** 729.026.668,89 91,13% 84.519 89,58%
used cars 70.972.589,25 8,87% 9.833 10,42%
total 799.999.258,14 100% 94.352 100%
** include, for the avoidance of doubt, demonstration cars
customer group
current aggregate
discounted lease
balance
in EUR
current aggregate
discounted lease
balance
in percent of total
number
of contracts*
number of contracts
in percent of total
private individual 140.531.801,48 17,57% 26.733 28,33%
commercial 659.467.456,66 82,43% 67.619 71,67%
total 799.999.258,14 100% 94.352 100%
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 19 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
16. Delinquencies Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
Initial Portfolio
days past due
aggregate
discounted lease
balance
in EUR
aggregate
discounted lease
balance
in percent of total
number
of contracts
number of contracts
in percent of total
1 - 30 - 0,00% - 0,00%
31 - 60 - 0,00% - 0,00%
61 - 90 - 0,00% - 0,00%
91 - 120 - 0,00% - 0,00%
> 120 - 0,00% - 0,00%
Total 0,00 0,00% 0 0,00%
Portfolio as of: 31. Jan. 13
days past due
current aggregate
discounted lease
balance
in EUR
current aggregate
discounted lease
balance
in percent of total
number
of contracts
number of contracts
in percent of total
1 - 30 3.609.740,29 0,45% 405 0,43%
31 - 60 1.259.191,84 0,16% 137 0,15%
61 - 90 792.496,32 0,10% 78 0,08%
91 - 120 309.431,58 0,04% 40 0,04%
> 120 782.642,70 0,10% 157 0,17%
Total 6.753.502,73 0,84% 817 0,87%
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 20 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
16.a Delinquencies Analysis Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
Performing Delinquencies
31-60 days past due 61-90 days past due 91-120 days past due >120 days past due
in EUR in EUR in EUR in EURJul 12 799.999.728 0 0 0 0
Aug 12 799.155.837 843.890 0 0 0
Sep 12 798.377.931 1.160.910 461.127 0 0
Okt 12 797.977.452 1.131.487 582.102 306.721 1.480
Nov 12 797.570.999 1.166.050 756.103 284.046 222.493
Dez 12 796.999.951 1.285.779 715.476 574.805 423.484
Jan 13 796.855.496 1.259.192 792.496 309.432 782.643
Monthly Periodin EUR
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 21 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
17. Seasoning Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
Initial Portfolio
group
in months
aggregate discounted
lease balance
in EUR
aggregate
discounted lease
balance
in percent of total
number
of contracts
number of contracts
in percent of total
<= 6 285.125.124,22 35,64% 15.642 21,77%
> 6 - <= 12 277.725.094,88 34,72% 20.344 28,32%> 12 - <= 24 223.416.153,00 27,93% 29.676 41,30%
> 24 - <= 36 13.358.982,29 1,67% 6.044 8,41%
> 36 - <= 42 238.398,09 0,03% 89 0,12%
> 42 - <= 48 80.920,09 0,01% 28 0,04%
> 48 - <= 53 54.579,11 0,01% 24 0,03%
> 53 - 0,00% - 0,00%
Total 799.999.251,68 100% 71.847 100%
WA Seasoning Term: 9,55
Min: 1,00Max: 52,00
Portfolio as of: 31. Jan. 13
group
in months
current aggregate
discounted lease
balance
in EUR
current aggregate
discounted lease
balance
in percent of total
number
of contracts*
number of contracts
in percent of total
<= 6 122.849.596,07 15,36% 6.208 6,58%
> 6 - <= 12 257.460.380,58 32,18% 19.385 20,55%
> 12 - <= 24 359.130.670,85 44,89% 45.057 47,75%
> 24 - <= 36 60.044.581,12 7,51% 23.401 24,80%
> 36 - <= 42 278.597,67 0,03% 123 0,13%> 42 - <= 48 170.044,82 0,02% 117 0,12%
> 48 - <= 53 28.638,62 0,00% 20 0,02%
> 53 36.748,41 0,00% 41 0,04%
Total 799.999.258,14 100% 94.352 100%
WA Seasoning Term: 13,58
Min: 1,00
Max: 59,00
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 22 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
17.a Seasoning (graph) Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
-
50.000.000
100.000.000
150.000.000
200.000.000
250.000.000
300.000.000
350.000.000
400.000.000
<= 6 > 6 - <= 12 > 12 - <= 24 > 24 - <= 36 > 36 - <= 42 > 42 - <= 48 > 48 - <= 53 > 53
Ag
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Seasoning in months
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 23 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
18. Remaining term Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
Initial Portfolio
group
in months
aggregate discounted
lease balance
in EUR
aggregate discounted
lease balance
in percent of total
number
of contracts
number of contracts
in percent of total
<= 6 291.781,71 0,04% 241 0,34%
> 6 - <= 12 19.595.049,36 2,45% 8.458 11,77%
> 12 - <= 24 250.913.923,33 31,36% 31.912 44,42%> 24 - <= 36 487.139.652,03 60,89% 29.593 41,19%
> 36 - <= 42 17.004.903,23 2,13% 744 1,04%
> 42 - <= 48 15.833.186,98 1,98% 587 0,82%
> 48 - <= 53 5.268.587,99 0,66% 193 0,27%
> 53 3.952.167,05 0,49% 119 0,17%
Total 799.999.251,68 100% 71.847 100%
WA Remaining Term 27,30
Min 6,00
Max 59,00
Portfolio as of: 31. Jan. 13
group
in months
current aggregate
discounted lease balance
in EUR
current aggregate
discounted lease balance
in percent of total
number
of contracts*
number of contracts
in percent of total
<= 6 8.905.175,05 1,11% 9.912 10,51%
> 6 - <= 12 57.765.852,96 7,22% 17.575 18,63%
> 12 - <= 24 370.045.139,87 46,26% 44.485 47,15%
> 24 - <= 36 334.792.817,32 41,85% 21.164 22,43%
> 36 - <= 42 16.243.285,93 2,03% 752 0,80%
> 42 - <= 48 7.786.422,06 0,97% 304 0,32%> 48 - <= 53 3.218.309,99 0,40% 125 0,13%
> 53 1.242.254,96 0,16% 35 0,04%
Total 799.999.258,14 100% 94.352 100%
WA Remaining Term 23,19
Min 1,00
Max 59,00
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 24 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
18.a Remaining term (graph) Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
-
50.000.000
100.000.000
150.000.000
200.000.000
250.000.000
300.000.000
350.000.000
400.000.000
<= 6 > 6 - <= 12 > 12 - <= 24 > 24 - <= 36 > 36 - <= 42 > 42 - <= 48 > 48 - <= 53 > 53
Ag
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Remaining term in months
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 25 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
19. Original term Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
Initial Portfolio
group
in months
aggregate discounted
lease balance
in EUR
aggregate discounted
lease balance
in percent of total
number
of contracts
number of contracts
in percent of total
<= 6 - 0,00% - 0,00%
> 6 - <= 12 243.671,35 0,03% 129 0,18%
> 12 - <= 24 17.177.118,35 2,15% 2.965 4,13%> 24 - <= 36 717.454.920,71 89,68% 65.258 90,83%
> 36 - <= 42 1.532.868,21 0,19% 112 0,16%
> 42 - <= 48 48.062.603,03 6,01% 2.705 3,76%
> 48 - <= 53 351.900,02 0,04% 14 0,02%
> 53 15.176.170,01 1,90% 664 0,92%
Total 799.999.251,68 100% 71.847 100%
WA Original Term 36,85
Min: 9,00
Max: 60,00
Portfolio as of: 31. Jan. 13
group
in months
current aggregate
discounted lease
balance
in EUR
current aggregate
discounted lease
balance
in percent of total
number
of contracts*
number of contracts
in percent of total
<= 6 - 0,00% - 0,00%
> 6 - <= 12 415.531,14 0,05% 216 0,23%
> 12 - <= 24 23.259.806,08 2,91% 4.630 4,91%
> 24 - <= 36 709.834.110,59 88,73% 84.925 90,01%
> 36 - <= 42 1.904.601,49 0,24% 169 0,18%
> 42 - <= 48 47.283.182,66 5,91% 3.459 3,67%> 48 - <= 53 287.074,19 0,04% 18 0,02%
> 53 17.014.951,99 2,13% 935 0,99%
Total 799.999.258,14 100% 94.352 100%
WA Original Term 36,77
Min: 9,00
Max: 60,00
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 26 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
19.a Original term (graph) Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
-
100.000.000
200.000.000
300.000.000
400.000.000
500.000.000
600.000.000
700.000.000
800.000.000
<= 6 > 6 - <= 12 > 12 - <= 24 > 24 - <= 36 > 36 - <= 42 > 42 - <= 48 > 48 - <= 53 > 53
Ag
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Original term in months
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 27 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
20. Vehicle class Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
Initial Portfolio
group
aggregate discounted
lease balance
in EUR
aggregate
discounted lease
balance
in percent of total
number
of contracts
number of contracts
in percent of total
BMW 1 series 72.837.066,27 9,10% 11.173 15,55%
BMW 3 series 176.785.417,25 22,10% 17.369 24,17%BMW 5 series 229.547.100,64 28,69% 15.804 22,00%
BMW 6 series 6.871.282,24 0,86% 314 0,44%
BMW 7 series 26.378.542,17 3,30% 1.633 2,27%
Mini 42.452.992,91 5,31% 6.821 9,49%
X - model 226.850.624,06 28,36% 16.989 23,65%
Z - model 15.046.289,60 1,88% 1.440 2,00%
others (incl. Motorcycles) 3.229.936,54 0,40% 304 0,42%
Total 799.999.251,68 100% 71.847 100%
Portfolio as of: 31. Jan. 13
group
current aggregate
discounted lease balance
in EUR
current aggregate
discounted lease
balance
in percent of total
number
of contracts*
number of contracts
in percent of total
BMW 1 series 79.278.471,54 9,91% 17.120 18,14%
BMW 3 series 157.541.628,89 19,69% 21.345 22,62%
BMW 5 series 221.622.964,78 27,70% 18.861 19,99%
BMW 6 series 17.687.913,43 2,21% 652 0,69%BMW 7 series 36.936.425,14 4,62% 2.276 2,41%
Mini 48.068.957,18 6,01% 11.075 11,74%
X - model 221.634.092,17 27,70% 20.860 22,11%
Z - model 12.962.045,08 1,62% 1.703 1,80%
others (incl. Motorcycles) 4.266.759,93 0,53% 460 0,49%
Total 799.999.258,14 100% 94.352 100%
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 28 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
21. Distribution by type of payment Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
Initial Portfolio
group
aggregate discounted
lease balance
in EUR
aggregate
discounted lease
balance
in percent of total
number
of contracts
number of contracts
in percent of total
Direct debit 794.539.735,63 99,32% 71.367 99,33%
Self payment 5.459.516,05 0,68% 480 0,67%
Total 799.999.251,68 100% 71.847 100%
Portfolio as of: 31. Jan. 13
group
current aggregate
discounted lease
balance
in EUR
current aggregate
discounted lease
balance
in percent of total
number
of contracts*
number of contracts
in percent of total
Direct debit 792.177.465,50 99,02% 93.472 99,07%
Self payment 7.821.792,64 0,98% 880 0,93%
Total 799.999.258,14 100% 94.352 100%
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 29 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
22. Distribution of contracts per Lessee Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
Initial Portfolio
group
aggregate discounted
lease balance
in EUR
aggregate
discounted lease
balance
in percent of total
number
of contracts
number of contracts
in percent of total
1 621.325.999,55 77,67% 57.226 79,65%
2-4 143.837.156,92 17,98% 11.423 15,90%5-7 19.702.629,03 2,46% 1.633 2,27%
8-10 6.340.204,32 0,79% 613 0,85%
>10 8.793.261,86 1,10% 952 1,33%
Total 799.999.251,68 100% 71.847 100%
Portfolio as of: 31. Jan. 13
group
current aggregate
discounted lease
balance
in EUR
current aggregate
discounted lease
balance
in percent of total
number
of contracts*
number of contracts
in percent of total
1 609.591.188,10 76,20% 74.554 79,02%
2-4 152.623.909,36 19,08% 15.186 16,10%
5-7 19.804.845,87 2,48% 2.165 2,29%
8-10 8.414.255,26 1,05% 959 1,02%>10 9.565.059,55 1,20% 1.488 1,58%
Total 799.999.258,14 100% 94.352 100%
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 30 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
23.Replenishment Conditions Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
Vehicle Type ConditionAggregate Discounted
Lease Balance
Percentage of Aggregate
Discounted Lease Balance
Limit of Aggregate
Discounted Lease BalanceCondition met: Yes/no
New Vehicles (incl demonstration cars) 729.026.668,89 91,13% >= 82% yes
Client Type ConditionAggregate Discounted
Lease Balance
Percentage of Aggregate
Discounted Lease Balance
Limit of Aggregate
Discounted Lease BalanceCondition met: Yes/no
Privat 140.531.801,48 17,57% >= 10% yes
Brand ConditionAggregate Discounted
Lease Balance
Percentage of Aggregate
Discounted Lease Balance
Limit of Aggregate
Discounted Lease BalanceCondition met: Yes/no
non-BMW brands and non-MINI brands 4.266.759,93 0,53% <= 5% yes
Lessee ConditionAggregate Discounted
Lease Balance
Percentage of Aggregate
Discounted Lease Balance
Limit of Aggregate
Discounted Lease BalanceCondition met: Yes/no
Single Lessee Limit 410.201,70 0,05% <= €1,500,000 yes
Remaining Maturity ConditionAggregate Discounted
Lease Balance
Percentage of Aggregate
Discounted Lease Balance
Limit of Aggregate
Discounted Lease BalanceCondition met: Yes/no
>= 37 months 16.243.285,93 2,03% <= 30% yes
>= 43 months 7.786.422,06 0,97% <= 28% yes
>= 49 and <= 53 months 3.218.309,99 0,40% <= 17% yes
>= 54 months 1.242.254,96 0,16% <= 12% yes
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 31 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
24. Amortisation M onthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
Initial Portfolio Current Portfolio
period
principal balance
in EUR period
principal balance
in EUR
Reduction
in EUR 799.999.251,68 799.999.258,14
1 768.496.523,27 1 759.015.584,64 40.983.673,50
2 736.889.311,19 2 718.603.926,86 40.411.657,78
3 705.177.270,45 3 678.364.413,88 40.239.512,98
4 673.360.051,81 4 638.417.767,22 39.946.646,66
5 641.437.304,38 5 598.882.837,51 39.534.929,71
6 609.408.692,42 6 559.867.882,99 39.014.954,52
7 577.390.181,06 7 521.194.843,65 38.673.039,34
8 545.425.275,62 8 483.276.332,84 37.918.510,81
9 513.594.707,10 9 446.170.430,05 37.105.902,79
, 10 481.965.248,84 10 410.088.562,56 36.081.867,49
11 450.623.413,37 11 375.768.215,15 34.320.347,41
12 419.677.391,90 12 342.090.263,80 33.677.951,35
13 389.211.515,51 13 309.261.033,06 32.829.230,74
14 359.062.733,66 14 278.174.193,77 31.086.839,29
15 329.604.971,46 15 248.567.289,30 29.606.904,47
16 300.889.267,27 16 220.643.958,67 27.923.330,63
17 273.121.889,50 17 194.626.025,55 26.017.933,12
18 246.958.580,69 18 170.087.395,10 24.538.630,45
19 221.387.443,33 19 146.819.362,69 23.268.032,41
20 196.586.904,27 20 125.852.169,68 20.967.193,01
21 173.365.394,69 21 106.621.970,80 19.230.198,88
22 151.490.903,94 22 89.429.317,23 17.192.653,57
23 131.133.114,21 23 74.823.919,24 14.605.397,99
24 112.420.610,08 24 60.989.336,88 13.834.582,36
25 95.018.725,37 25 48.321.071,96 12.668.264,92
26 78.710.354,65 26 38.694.633,29 9.626.438,67
27 64.371.700,66 27 30.971.940,27 7.722.693,02
28 51.580.716,92 28 24.680.164,75 6.291.775,52
29 40.614.062,08 29 19.622.224,67 5.057.940,08
30 31.888.769,96 30 15.139.756,96 4.482.467,71
31 23.869.515,00 31 11.592.711,50 3.547.045,46
32 16.904.152,84 32 9.240.537,12 2.352.174,38
33 12.648.642,30 33 7.226.358,35 2.014.178,77
34 10.094.748,67 34 5.603.938,63 1.622.419,72
35 8.801.058,16 35 4.802.180,59 801.758,04
36 7.744.993,88 36 4.046.688,75 755.491,84
37 6.758.548,03 37 3.356.423,77 690.264,98
38 5.839.465,08 38 2.781.341,57 575.082,20
39 5.009.795,06 39 2.305.865,71 475.475,86
39 4.253.920,09 40 1.920.727,93 385.137,78
39 3.588.077,27 41 1.588.673,63 332.054,30
42 3.004.140,51 42 1.294.113,44 294.560,19
43 2.460.200,72 43 1.041.899,49 252.213,95
44 1.975.852,60 44 841.864,19 200.035,30
45 1.590.696,75 45 671.237,49 170.626,70
46 1.295.061,28 46 530.423,33 140.814,16
47 1.079.631,27 47 417.265,53 113.157,80
48 884.232,35 48 314.589,76 102.675,77
49 707.458,26 49 225.507,55 89.082,21
50 547.420,71 50 157.916,22 67.591,33
51 416.798,65 51 109.782,92 48.133,30
52 308.461,98 52 76.415,14 33.367,78
53 222.735,77 53 50.032,85 26.382,29
54 153.616,76 54 28.702,81 21.330,04
55 93.960,49 55 15.294,58 13.408,23
56 44.900,01 56 8.548,85 6.745,73
57 13.495,49 57 3.763,89 4.784,96
58 - 58 - 3.763,89
59 - 59 -
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 32 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
25. Priority of Payments Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
Priority of Payments*
Available Distribution Amount + 89.876.798,71
Taxes - 0,00
Trustee Payment - 0,00
Senior Expenses - 31.029,44
Swap Net Payment - 176.866,66
Class A Interest - 391.649,44
Class B Interest - 35.105,92
Cash Reserve - 44.000.000,00
Replenishment Amount - 43.317.120,64
Principal Class A - 0,00 Principal Class B - 0,00
Swap Termination Event - 0,00
Subordinated Loan Interest - 55.355,67
Subordinated Loan Principal - 0,00
Seller - 1.868.929,08
*all Amounts in EUR
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 33 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
26. Transaction costs Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
Transaction Costs Class A Class B Subordinated Loan Total
Senior Expenses 31.029,44
Interest accrued for the Period in EUR 391.649,44 35.105,92 55.355,67 482.111,03
Interest payments for the Period in EUR 391.649,44 35.105,92 55.355,67 482.111,03
Cumulative Interest Payments in EUR 2.744.778,40 242.686,24 382.349,01 3.369.813,65
Unpaid Interest for the Period in EUR 0,00 0,00 0,00 0,00
Cumulative Unpaid Interest in EUR 0,00 0,00 0,00 0,00
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 34 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
27. Ratings Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
Fitch DBRS S&P
Notes - current ratings
Class A AAA AAA AAA
Class B AA- A(high) A+
Fitch DBRS S&P Trigger breached
Transaction Parties - current ratings
BMW AG long term n/a n/a A no
short term n/a n/a A-1 no
Paying Agent / Interest Determination Agent: BNP Paribas Securities Services (Lux. Branch) long term A+ n/a AA- no
short term F1+ n/a A-1+ no
Issuer Account Bank / Data Trustee: BNP Paribas Securities Services (Frankfurt Branch) long term A+ n/a AA- no
short term F1+ n/a A-1+ no
Swap Provider: DZ Bank AG long term A+ n/a AA- no
short term F1+ n/a A-1+ no
Fitch DBRS S&P
Transaction Parties - required ratings
BMW AG long term n/a n/a BBB+
short term n/a n/a A-2
Paying Agent / Interest Determination Agent: BNP Paribas Securities Services (Lux. Branch) long term A A A+
short term F1 R1 A-1
Issuer Account Bank / Data Trustee: BNP Paribas Securities Services (Frankfurt Branch) long term A A A+
short term F1 R1 A-1
Swap Provider: DZ BANK AG long term A A n/a
short term F1 R1 A-1
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 35 of 36
Bavarian Sky S.A., Compartment 3 Reporting Date 11. Feb. 13
Monthly Investor Report Payment Date 15. Feb. 13
Period No 7
28. Swap counterparty data Monthly Period Jan 2013
Interest Period from 15. Jan. 13 to 15. Feb. 13 = 31 days
Swap counterparty data
Swap counterparty provider DZ Bank AG
Swap termination event no
Swap data
Swap type
Notional amount in EUR 800.000.000,00
Fixed rate 0,38%
Floating rate (Euribor) 0,11%
Net swap payments (- from SPV / + to SPV) in EUR -176.866,66
Fixed floating interest rate swap
BMW Financial Services
Heidemannstrasse 164
80939 Munich
Germany Page 36 of 36