13 December 2011

Auto Lease Securitisation


Walder Wyss assisted Lloyds TSB Bank plc ("Lloyds") on an ABCP conduit-funded receivables purchase facility backed by a Swiss auto lease portfolio originated by the Swiss subsidiary of an international autofinance company. This landmark transaction is the first auto lease securitisation transaction ever done in Switzerland. The transaction closed on December 12, 2011 and involved the transfer of auto lease assets to a newly established Swiss special purpose vehicle.

Walder Wyss advised Lloyds on the overall structuring and all Swiss legal, tax and VAT aspects of the transaction. The Walder Wyss team included Johannes A. Bürgi (Partner, Finance), Maurus Winzap (Partner, Tax), Lukas Wyss (Managing Associate, Finance), Jan Ole Luuk (Counsel, VAT), Tina Sauter (Associate, Corporate), Gisela Oliver (Associate, Finance), David Borer (Trainee, Finance) and Ramona Wyss (Trainee, Finance). A separate team of lawyers led by Luc Defferrard (Partner, Finance) and including Elisabeth Moskric (Associate, Finance) and Hubertus Hillerström (Associate, Finance) provided advice to BNY Mellon Corporate Trustee Services Limited as Trustee.

News

News

13 December 2011

Auto Lease Securitisation

Walder Wyss assisted Lloyds TSB Bank plc ("Lloyds") on an ABCP conduit-funded receivables purchase facility backed by a Swiss auto lease portfolio originated by the Swiss subsidiary of an international autofinance company. This landmark transaction is the first auto lease securitisation transaction ever done in Switzerland. The transaction closed on December 12, 2011 and involved the transfer of auto lease assets to a newly established Swiss special purpose vehicle.

Walder Wyss advised Lloyds on the overall structuring and all Swiss legal, tax and VAT aspects of the transaction. The Walder Wyss team included Johannes A. Bürgi (Partner, Finance), Maurus Winzap (Partner, Tax), Lukas Wyss (Managing Associate, Finance), Jan Ole Luuk (Counsel, VAT), Tina Sauter (Associate, Corporate), Gisela Oliver (Associate, Finance), David Borer (Trainee, Finance) and Ramona Wyss (Trainee, Finance). A separate team of lawyers led by Luc Defferrard (Partner, Finance) and including Elisabeth Moskric (Associate, Finance) and Hubertus Hillerström (Associate, Finance) provided advice to BNY Mellon Corporate Trustee Services Limited as Trustee.