Tag Archives: CapLaw-2013-19

CHF 300 million ABS Notes—BMW Group vehicle lease assets securitization listed on SIX Swiss Exchange

On 15 May 2013, BMW Group successfully closed a cross-border securitization of a portfolio of lease assets originated in Switzerland. The CHF 220.5 million Class A Notes are listed on the SIX Swiss Exchange. The transaction involved the sale by BMW (Schweiz) AG of Swiss car and motorbike lease assets to a newly established Luxembourg special purpose vehicle, which funded the initial purchase of lease assets with the proceeds of the issuance of three classes of notes in the aggregate amount of CHF 300 million. The securitization structure provides for the first Swiss cross-border vehicle lease assets securitization listed on the SIX Swiss Exchange and the first issuance of asset-backed securities by a Luxembourg securitization vehicle listed on the SIX Swiss Exchange.