GE Money Bank preparing sophomore lease ABS

09 Jun 2013

GE Money Bank AG is revving up its second securitisation, Swiss Auto Lease 2013-1 GmbH, following its market debut in the spring of 2012. Credit Suisse is sole arranger and lead manager on the deal.

The deal securitises both the payment streams from auto leases made by GE Money to mostly private customers in Switzerland, as well as the residual value of cashflows from auto dealers. The lease contracts, which total about Sfr329m ($351.2m), finance about 58% new cars and 42% used cars.

GE ...

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