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RevoCar 2019: 26 April 2019

As per the previous transaction, the payments of interest and principal on the notes are from the collections on a portfolio of fixed rate auto loan receivables originated by Bank11 für Privatkunden und Handel GmbH (Bank11) with (i) consumers (Verbraucher) resident or (ii) entrepreneurs (Unternehmer) located in the Federal Republic of Germany. All are governed by German law and are denominated in Euros.

At the cut-off date (31 March 2019) the portfolio consists of 34,591 contracts, where the WA outstanding loan amount is Eur11,563, and all are payable via direct debit. Client Type: private 96.44%, commercial 3.56%. Borrower concentration (by current balances): top 1 – 0.03%, top 5 – 0.15%, top 15 – 0.41%. Loan Type (by current balances): EvoClassic 84.23% and EvoSmart 15.77%. Vehicle Type: Used 63.28%, New 36.72%. The WA seasoning is 7.63 months. Regional concentration: North Rhine-Westphalia 21.73%, Bavaria 14.60%, Baden-Wurttemberg 13.93% and Lower Saxony 9.33%.

EU Risk Retention: The Originator will retain, on an on-going basis, a material net economic interest of not less than 5% of the nominal value of each of the tranches sold or transferred to the investors, as set out in Article 6 para 1 and para 3 (a) of the Regulation (EU) 2017/2402.

Compare/contrast: RevoCar 2017, A-Best 16, PBD Germany Auto 2018