Baker & McKenzie Represents BMW in a Public €800 Million Lease Receivables ABS Transaction
Deal Announcement
February 15, 2010
Frankfurt am Main, 15 February 2010 – The international law firm Baker & McKenzie (Frankfurt) advised BMW Leasing GmbH (BMWL) as sole transaction counsel in the second public ABS transaction under the Bavarian Sky issuance platform. In addition, the London office of Baker & McKenzie advised BNP Paribas in their role as security trustee and principal paying agent. Notes with an aggregate principal amount of €800 million secured by auto lease receivables have been issued. The issuer is Bavarian Sky S.A., Compartment 2, Luxembourg. A syndicate of banks led by WestLB and Société Générale was assigned with the placement of the notes.
The securitization team at Baker & McKenzie has advised in a large number of national and international ABS transactions, particularly in the automotive industry. VW Bank, VW Leasing, Porsche AG, Mercedes Bank, BMW Leasing and MAN Finance International are all regular clients.
Legal advisor BMW Group Inhouse: Dr. Andreas Liepe, LL.M.
Legal advisor to BMWL: Baker & McKenzie
Lead Partner: Dr. Martin Kaiser, LL.M. (Partner, Frankfurt)
Banking and Finance: Johannes Rothmund (Counsel, Frankfurt), Shengzhe Wang (Associate, Frankfurt)
Leasing: Dr. Alexander Haines (Partner, Frankfurt), Dr. Holger Lutz (Associate, Frankfurt)
Tax: Christian Brodersen (Partner, Frankfurt), Nicole Looks (Partner, Frankfurt), Tino MüllerDuttine (Associate, Frankfurt), Jochen MeyerBurow, LL.M. (Associate, Frankfurt).
Legal advisor to BNP: Baker & McKenzie
Banking and Finance team: Simon Porter (Lead Partner, London), Agnes Franken (Senior Associate, London)