LeasePlan Deutschland in EUR549,1 million ABS transaction "Bumper 7"
We have advised LeasePlan Deutschland GmbH in connection with the securitisation of lease receivables and auto residual values under the "Bumper 7" transaction with a value of EUR549,1 million.
The transaction is LeasePlan's first public transaction in Germany since 2011. Under Bumper 7, lease receivables and auto residual values were jointly securitised under one asset-backed securities transaction. The issued securities are listed on the Luxembourg stock exchange and the class A notes were granted the maximum rating of AAA by the rating agencies: DBRS, Moody's and Standard & Poor's. LeasePlan Corporation N.V. acted as co-arranger with Société Générale.
"We were able to contribute to our client's success through our experience in this market segment", comments Dr. Martin Kaiser, head of the banking and finance practice group.
The securitisation team at Baker & McKenzie regularly advises on a large number of national and international ABS transactions, particularly in the automotive industry. Besides Volkswagen, also Porsche Financial Services, BMW Bank, Toyota Kreditbank, LeasePlan, FFS Bank, ALD, BDK Bank and MAN Finance International are all longstanding clients."
Baker & McKenzie Team
Banking & Finance: Sandra Wittinghofer (Partner, Frankfurt), Dr. Martin Kaiser, LL.M. (Partner, Frankfurt)
Banking & Finance: Stefanie Hentschel, LL.M. (Senior Associate, London/Frankfurt), Dr. Sahra Demirbilek (Associate, Frankfurt), Stephan Lehnen, LL.M. (Associate, Frankfurt)
Tax: Christoph Becker (Partner, Frankfurt), Jochen Meyer-Burow, LL.M. (Partner, Frankfurt)
As well as a number of colleagues in the Baker & McKenzie offices in London, Luxembourg, Amsterdam and Chicago