Third Swiss auto lease securitisation transaction: Swiss Car ABS 2018-1 AG issues asset-backed notes with Credit Suisse, UBS and ZKB
Niederer Kraft Frey advised Credit Suisse as Arranger, Sole Lead Manager and Sole Bookrunner, and UBS AG and Zürcher Kantonalbank, each as Co-Manager, in connection with the issuance by Swiss Car ABS 2018-1 AG of CHF 275,000,000 0.120 per cent asset-backed notes due 2028. The notes which are backed by a portfolio of Swiss auto lease assets originated by AMAG Leasing AG have been assigned a “AAAsf” rating by Fitch and are listed on the SIX Swiss Exchange.
The transaction which closed on 18 April 2018 constitutes the third auto lease securitisation transaction of AMAG Leasing AG following its debut auto lease securitisation transaction on 3 December 2015 and a second auto lease securitization transaction on 4 May 2016 in both of which NKF also acted as adviser to the Arrangers and the Managers.
The NKF team was led by Capital Markets partners Daniel Bono and Philippe Weber working with partner Markus Kronauer, Tax, counsel Christina Rinne ,Tax/VAT, senior associate Christine Hohl, Capital Markets / Banking, Finance & Regulatory, and junior associate Aurèle Bertrand, Capital Markets.