London — Mayer Brown has acted for Banca IMI, Commerzbank, Lloyds Bank and Société Générale as the Joint Lead Managers on a €685 million German auto receivables securitization entered into by Globaldrive Auto Receivables 2017-A B.V ("Globaldrive").

The transaction involved the issuance by Globaldrive of €630 million of Class A Notes, €20.5 million of Class B Notes and €34.3 million of Class C Notes backed by a portfolio of German auto loan receivables, purchased by Globaldrive from FCE Bank plc, which is part of the Ford Motor Company. The Class A Notes and the Class B Notes were listed on the Main Market of the Irish Stock Exchange.

The cross-border Mayer Brown team was led by London Structured Finance and Securitization partner David O'Connor and included Banking & Finance partner Andreas Lange (Frankfurt) and senior associate Noman Ali (London), and Tax Transactions & Consulting counsel Susan Günther (Frankfurt).

Mayer Brown also advised Deutsche Trustee Company Limited as note trustee and security trustee and Deutsche Bank, A.G. London Branch in its various agency roles, on the transaction. The Mayer Brown team was led by Corporate Trust & Agency of counsel Gary Silverman.

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