Mayer Brown advises on a first of its kind securitisation in Bulgaria of leasing receivables worth €200 million
25 September 2008
25 September 2008 - Leading international law firm Mayer Brown has advised Eurolease Auto in relation to a €200 million securitisation of leasing receivables, a first of its kind transaction in Bulgaria.
The issuer, Eurolease Auto, is part of the major Bulgarian finance conglomerate Eurohold Bulgaria, which is listed on the Sofia Stock Exchange and also has subsidiaries in Macedonia and Romania.
Deutsche Bank was the lead arranger of the securitisation of car leasing receivables. The financing is funded through senior asset-backed notes rated BBB+ and a mezzanine loan rated BB+ by Standard and Poor’s Corporation.
Dominic Griffiths, head of Mayer Brown’s Securitisation Practice said: “The realisation of the first-of-its-kind transaction in Bulgaria, a securitisation of a leasing portfolio, will assist in the long-term growth of Eurolease’s leasing portfolio. This is a good example of the cutting edge structured finance advisory service we provide to our clients.”
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