Hogan Lovells advises Bank11 on €500 million securitisation of auto loans

Press releases | 04 October 2022

Frankfurt, 4 October 2022 - A Hogan Lovells team led by Frankfurt Partner Sven Brandt, has advised Bank11 für Privatkunden und Handel GmbH on its eleventh securitisation of auto loans with a volume of €500 million.

Bank11 für Privatkunden und Handel GmbH is a German credit institution based in Neuss which focusses on the sales and procurement financing of mid-sized car dealers.

Under the transaction five tranches of notes have been issued. The most senior tranche has been rated AAA(sf) (DBRS) and Aaa(sf) (Moody’s). Moreover, the transaction complies with the high standards of an STS securitisation under the EU Securitisation Regulation, which has been verified by STS Verification International GmbH.

UniCredit Bank AG acted as arranger and sole lead manager. The notes have been listed at the regulated market of the Luxembourg Stock Exchange and have been largely placed with institutional investors.

Hogan Lovells Team for Bank 11

Dr. Sven Brandt (partner, Head Capital Markets Germany), Sebastian Oebels (counsel), Dilek Ovic (associate); Didem Savas (projects associate), Leyla Memis (business lawyer) (all Capital Markets, Frankfurt);

Dr. Heiko Gemmel (partner), Nico Neukam (counsel) (both Tax, Düsseldorf);

Sharon Lewis (partner), Ailsa Davies (senior associate), Joanna Veitch (associate) (all Capital Markets, Paris);

Ariane Mehrshahi (counsel), Valerie Laskowski (senior associate), Clara Valdes Cortes (associate) (all Capital Markets, Luxemburg).