A multijurisdictional team of global law firm Hogan Lovells lead by Frankfurt partner Sven Brandt and counsel Sebastian Oebels advised Stellantis Bank on its first combined securitisation of approximately 66,500 German auto leases and their related vehicle residual values.
To finance the purchase of the auto leases and vehicle residual values, a Luxembourg based securitisation company issued notes in seven tranches in an aggregate nominal amount of EUR 1,010,000,000, the highest of which was rated AAA (sf) by Moody’s and DBRS. All trances were placed with investors.
The transaction was verified as being simple, transparent and standardised under the European Securitisation Regulation by PCS and qualifies as significant risk transfer for the purposes of the European Capital Requirements Regulation.
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