Cadwalader advised Multilease AG (part of the Emil Frey group) on its inaugural Swiss auto lease securitization arranged by Credit Suisse.
The auto lease assets originated by Multilease AG back the issuance of CHF 260,700,000 Class A Notes, CHF 22,200,000 Class B Notes, and CHF 14,100,000 Class C Notes governed by English law and listed on the Swiss Stock Exchange. The Class A Notes are rated "Aaa(sf)" by Moody’s and "AAAsf" by S&P, the Class B Notes are rated “A1(sf)” by Moody’s and “AA-(sf)” by S&P, and the Class C Notes are rated “Baa2(sf)” by Moody’s and “BBB+(sf)” by S&P.
Our engagement on this transaction illustrates our position as a “go-to” firm for Swiss securitization transactions, according to London Capital Markets partner Stephen Day.
“The firm is well known for opening this market,” Day said. “First Swiss Mobility is a good example of deploying our team’s broad experience to facilitate another first-time issuer diversifying its funding through the ABS market.”
This transaction also continues to solidify Cadwalader’s leading position in European securitization more generally, where the firm has advised a significant number of other first-time issuers and across an array of market-first transactions.
The Cadwalader team was led by Day and included Capital Markets special counsel Suzanne Bell and associate Michelle Chan.
Jodi Avergun, Aaron Buchman, Jason Halper, Joseph Moreno, Lex Urban, Kendra Wharton
Brian McGovern, Jared Facher
Joseph Facciponti, Joseph Moreno
Cadwalader is proud to host the 2nd Annual Finance Forum in Charlotte on November 8, 2017.