Hogan Lovells advises Société Générale on a €750 million securitisation of auto loans
Led by partner Dr. Sven Brandt and counsel Sebastian Oebels, a multi-jurisdictional team of Hogan Lovells has advised Société Générale as Arranger and Lead Manager on the securitisation of a portfolio of auto loan receivables in Germany originated by Bank Deutsches Kraftfahrzeuggewerbe GmbH.
The transaction was realised through Red & Black Auto Germany 12 UG (haftungsbeschränkt), which issued multiple tranches of asset backed securities – the Class A, Class B, Class C floating rate asset backed notes and Class D fixed rate asset backed notes. The Class A Notes, the Class B Notes and the Class C have been listed at the regulated market of the Luxembourg Stock Exchange and placed with institutional investors.
The Class A notes have been rated AAA(sf) by Fitch and DBRS.
The transaction is structured as a simple, transparent and standardised (STS) securitisation under the European Securitisation Regulation. Hogan Lovells provided Société Générale with comprehensive legal advice in all matters relating to the transaction.
Hogan Lovells team for Société Générale
Dr. Sven Brandt (Partner), Sebastian Oebels (Counsel), Svenja Schiefer, Alexander Peters (Projects Associates) (Capital Markets, Frankfurt);
Sharon Lewis (Partner), Ailsa Davis (Counsel), Joanna Veitch (Associate) (Capital Markets, Paris);
Dr. Heiko Gemmel (Partner), Vanessa Rinus (Associate) (Tax, Dusseldorf);
Ariane Mehrshahi (Partner), Agnes Merz (Senior Associate) (Capital Markets, Luxembourg).
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