Walder Wyss Ltd | View firm profile
On 28 November 2017, Multilease AG closed its second Swiss auto lease securitization transaction involving the issuance by First Swiss Mobility 2017-2 AG (the Issuer) of CHF 267,300,000 Zero percent asset-backed Class A Notes, due in 2027, CHF 16,500,000 1.00 percent asset-backed Class B Notes, due in 2027 and CHF 14,800,000 2.00 percent asset-backed Class C Notes, due in 2027.
The Notes issued are listed on the SIX Swiss Exchange and are backed by a portfolio of Swiss auto lease assets originated by Multilease AG and transferred to the Issuer. The Notes are rated «AAA sf»/«AAA(sf)»; «AA+sf»/«AA-(sf)»; «A+sf)»/«BBB+(sf)» by Fitch and S&P. UBS Investment Bank und Stormharbour Securities LLP acted as Joint Arranger and Credit Suisse AG, UBS Investment Bank and Zürcher Kantonalbank as Joint Lead Managers and Joint Bookrunners.
Walder Wyss advised Multilease AG on the overall structuring and all Swiss legal, tax and VAT aspects of the transaction (transaction counsel). The Walder Wyss team included Lukas Wyss (Partner, Finance), Johannes A. Bürgi (Partner, Finance), Maurus Winzap (Partner, Tax), Thomas Müller (Partner, Finance), Jan Ole Luuk (Counsel, VAT), Roger Ammann (Associate, Finance) and Fanny Sutter (Trainee, Finance).