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Niederer Kraft & Frey advises Credit Suisse on first of its kind domestic credit card securitisation
Niederer Kraft & Frey has advised Credit Suisse in relation to the securitisation of a Swiss credit card receivables portfolio originated by Credit Suisse and Swisscard AECS, a joint venture between Credit Suisse and American Express.
The portfolio has been partly refinanced through the issuance of CHF 351.1 million AAA-rated Class A Notes, CHF 11.5 million A-rated Class B Notes and CHF 7.4 million BBB-rated Class C Notes, each listed on SIX.
The transaction represents the first Swiss domestic securitisation of credit card receivables.
The NKF team consisted of Philippe Weber, Daniel Bono and Peter Honegger; Markus Kronauer and Hansjürg Christoffel provided tax advice.
For more information please visit www.nkf.ch