Homburger | View firm profile
In October 2023, AMAG Leasing updated and renewed its CHF 1.5 bn Auto Covered Bond Programme irrevocably guaranteed by AMAG Leasing Auto Covered Bond AG (the Programme).
On November 22, 2023, AMAG Leasing successfully completed the issuance of CHF 175 m 2.200 per cent. Fixed-Rate Auto Covered Bonds due 2027 and CHF 135 m 2.400 per cent. Fixed-Rate Auto Covered Bonds due 2030 under the Programme.
The Auto Covered Bonds are indirectly backed by a portfolio of lease assets originated by AMAG Leasing.
AMAG Leasing is a leading car leasing company in Switzerland with a portfolio currently comprising over 180,000 contracts valued at more than CHF 4.8 bn. AMAG Leasing is a subsidiary of AMAG Group, which is the largest mobility company in Switzerland with a market share in the Swiss passenger car market of nearly 31.9 per cent representing Volkswagen and its brands VW, Audi, SEAT and ŠKODA in Switzerland.
Homburger acted as sole legal advisor advising AMAG Leasing as Issuer and Zürcher Kantonalbank as Sole Arranger and Sole Lead Manager. The Homburger team was led by Daniel Haeberli and Stefan Kramer (both Capital Markets / Financial Market Regulation) and included Stefan Oesterhelt (Tax) and Daniel Hulmann and Yulia Shaburnykova (both Capital Markets).