First Swiss Mobility 2019-1 AG issues asset-backed notes arranged by Credit Suisse
Niederer Kraft Frey advised Credit Suisse AG as Arranger and Credit Suisse AG together with Zürcher Kantonalbank as Joint Bookrunners and Joint Lead Managers in connection with the issuance by First Swiss Mobility 2019-1 AG of CHF 227,000,000 zero per cent. asset-backed Class A Notes due 2028, CHF 13,500,000 0.625 per cent. asset-backed Class B Notes due 2028 and CHF 9,500,000 1.50 per cent. asset-backed Class C Notes due 2028. The Notes which are backed by a portfolio of Swiss auto lease assets originated by Multilease AG are listed on the SIX Swiss Exchange. The transaction which closed on 16 December 2019 constitutes the third auto lease securitisation transaction of Multilease AG following an auto lease securitisation transaction on 28 November 2017 and its debut auto lease securitisation transaction on 13 April 2017 in both of which NKF also acted as adviser to the Arrangers and the Managers.
The NKF team was led by Capital Markets partner Daniel Bono, working with Tax partner Markus Kronauer and senior associate Christine Hohl (Capital Markets, Banking & Finance).