Baker McKenzie Advises Société Générale on ABS Deal Worth Almost EUR1 BN
Baker McKenzie has acted as counsel for Société Générale Corporate, Investment Banking (Société Générale) in their fourth public ABS (asset-backed securities) transaction of Bank Deutsches Kraftfahrzeuggewerbe GmbH (BDK) in Germany.
Notes with an aggregate principal amount of almost EUR 1 billion secured by auto loan receivables originated by BDK were issued. The Issuer is Red & Black Auto Germany 4 UG (haftungsbeschränkt). Société Générale was entrusted with the placement of the notes. The investor base is spread widely across Europe.
"This is the fourth transaction of this kind on which we advised Société Générale. The high demand shows how important securitization transactions backed by high quality assets are in the current interest and market environment", said Dr. Martin Kaiser, head of the practice group Banking & Finance.
The securitization team at Baker McKenzie regularly advises a large number of national and international ABS transactions, particularly in the automotive industry. Volkswagen Bank, Volkswagen Financial Services, Porsche Financial Services, BMW Bank, Toyota Kreditbank, FFS Bank and MAN Finance International are all longstanding clients.
Baker Mckenzie team advising Société Générale:
Banking & Finance: Dr. Martin Kaiser, LL.M. (Partner, Frankfurt)
Banking & Finance: Sahra Demirbilek (Associate, Frankfurt), Stephan Lehnen, LL.M. (Associate, Frankfurt)
Banking Regulatory: Sandra Wittinghofer (Partner, Frankfurt)
Tax: Christoph Becker (Partner, Frankfurt), Jochen Meyer-Burow (Partner, Frankfurt)
Consumer Law: Dr. Holger Lutz (Partner, Frankfurt)