Hogan Lovells with Stellantis Bank on auto-leasing securitizations worth over 1 billion

Led by Frankfurt partner Dr. Sven Brandt and counsel Sebastian Oebels (BOTH PICTURED, LEFT AND RIGHT), a cross-border team from Hogan Lovells has advised Stellantis Bank on its first combined securitization of approximately 66,500 German auto-leasing contracts and the associated residual values of the vehicles.

To finance the purchase of the auto-leasing contracts and vehicle residual values, a Luxembourg-based securitization company issued bonds in seven tranches with a total nominal amount of EUR 1,010,000,000. The highest tranche was rated AAA (sf) by Moody’s and DBRS. All tranches were placed with investors.

The transaction was verified by PCS as simple, transparent and standardized within the meaning of the European Securitization Regulation and qualifies as a significant risk transfer measure under the European Capital Requirements Regulation (CRR).

The Hogan Lovells team for Stellantis Bank was composed of: Dr. Sven Brandt (Partner), Sebastian Oebels (Counsel), Leyla Memis (Senior Business Lawyer), Didem Savas (Senior Projects Associate), Theresa Bart (Associate) (Capital Markets Law, Frankfurt); Sharon Lewis (Partner), Ailsa Davis (Counsel), Joanna Veitch (Associate) (Capital Markets Law, Paris); Dr. Heiko Gemmel (Partner), Vanessa Rinus (Associate) (Tax Law, Düsseldorf); Ariane Mehrshahi (Partner), Agnes Merz, Valérie Laskowski, Carla Valdés Cortés (Senior Associates) (Capital Markets Law, Luxembourg); Gérard Neiens (Partner), Jean-Philippe Monmousseau (Counsel), Michèle Aké (Associate) (Tax Law, Luxembourg); Laura Asbati (Partner), Julie Toux (Associate) (Capital Markets Law, Paris).