First Swiss Mobility 2022-1 AG: 19 December 2022

The sixth transaction in the series, which once again is a securitisation of auto lease instalments and auto dealer receivables relating to residual values, which Multilease AG has granted to its Swiss clients.

The originator, Multi Lease AG, 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 final portfolio (31 October 2022) will consist of 15,221 contracts, where the average discounted lease balance is Chf18,553. There is a weighted average seasoning of 17.0 months. The portfolio consists of both auto lease instalment receivables and RV, and there is a 36-month revolving period. 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.

Compare/contrast: First Swiss Mobility 2020-2 AG
relating to residual values, which Multilease AG has granted to its Swiss clients.

The originator, Multi Lease AG, 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 final portfolio (31 October 2022) will consist of 15,221 contracts, where the average discounted lease balance is Chf18,553. There is a weighted average seasoning of 17.0 months. The portfolio consists of both auto lease instalment receivables and RV, and there is a 36-month revolving period. 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.

Compare/contrast: First Swiss Mobility 2020-2 AG