Amsterdam, 13 June 2016 - Baker & McKenzie advised Volkswagen Financial Services AG, Volkswagen Leasing B.V. and DutchLease B.V. in an asset-backed securities (ABS) transaction as part of the VCL Master series in the Netherlands.

Notes backed by Dutch lease receivables and residual values of vehicles in a total nominal amount of up to Euro 1 billion were issued in the Netherlands. Originators of the receivables are Volkswagen Leasing B.V. and DutchLease B.V. The issuer is VCL Master Netherlands B.V.

"The VCL Master securitisations of Volkswagen are long proven and known for their quality. In the assignment to lead the first ABS transaction for Volkswagen in the Netherlands, which also marked the first securitisation in our country including a substantial number of private leases, we were able to offer smooth cross-border assistance in close co-operation with our Frankfurt and London offices", says Philippe Steffens, head of the Amsterdam Banking & Finance practice group, in regard to the transaction.

Baker & McKenzie Amsterdam regularly advises clients on securitisation transactions, structured credit products and whole loan transactions, involving a wide variety of asset classes such as auto leases, trade receivables, consumer credit and mortgage loans.

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