IFLR1000

Multilease SFr297 million auto lease securitisation

5/5/2017
Asset Backed Securities (ABS), Securitisation
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SFr 297 million

$ 305.839 million

Completed

5/5/2017

Overview:

  • Multilease has completed its inaugural Swiss auto lease securitisation in three different classes worth a combined SFr297 million.
  • The transaction involved the issuance by First Swiss Mobility (FSM) of SFr260.7 million 0.14% Class A notes, SFr22.2 million 1.75% Class B notes and SFr14.1 million 2.75% Class C notes, all listed on the SIX Swiss Exchange. These were backed by a portfolio of Swiss auto lease assets originated by Multilease and transferred to FSM.
  • Credit Suisse acted as arranger and manager for the deal, with Zürcher Kantonalbank also serving as manager.
  • Intertrust Trustees served as the note trustee and security trustee.

Jon Moore - Journalist

Jurisdiction:

Switzerland

Deal types:

Asset Backed Securities (ABS)
Securitisation

Practice area:

Capital markets : Structured finance and securitisation

Governing laws:

England and Wales
Switzerland

Industry sector:

Automotive

Firms:
Cadwalader Wickersham & Taft

Party: Multilease (Seller, Servicer)

Party: First Swiss Mobility (Issuer)

Lawyers: Stephen Day, Suzanne Bell

Clifford Chance

Party: Credit Suisse (Arranger, Manager)

Niederer Kraft Frey

Party: Credit Suisse (Arranger, Manager)

Party: Zürcher Kantonalbank (Manager)

Reed Smith

Party: Intertrust Trustees (Note Trustee, Security trustee)

Walder Wyss

Party: Multilease (Seller, Servicer)

Party: First Swiss Mobility (Issuer)

Lawyers: Johannes Bürgi, Lukas Wyss, Thomas Müller

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