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First Swiss Mobility 2017-2 AG : 03 December 2017

The second in the series from originator Multi Lease AG, which is part of the Emil Frey Group and they are the official leasing partner in Switzerland for the brands Jaguar, Kawasaki, Kia, Land Rover, Lexus, Mitsubishi, Subaru, Suzuki, Toyota, DFSK and Piaggio.

The transaction is a 36 month revolving cash securitisation of auto lease instalments and auto dealer receivables relating to residual values. The final portfolio will consist of 18,962 contracts, with a weighted average seasoning of 17 months and an average outstanding lease balance of Chf17,403. The portfolio consists of both auto lease instalment receivables and RV. The underlying lease contracts have been distributed through both captive and non-captive dealerships in Switzerland. Of note is that all lease contracts with residual value risk have a dealer buyback guarantee. Asset type: New vehicles – 66.2%, used – 33.8%. Customer type: private – 74.3%, commercial – 25.7%.

Compare/contrast: First Swiss Mobility 2017-1 AG