German Lion S.A., Compartment ABS 2024-1: 25 November 2024

The Issuer will make payments on the Notes from payments of principal and interest received from a portfolio solely comprising consumer Loans originated by ING-DiBa AG (the Seller) in Germany.

As at the cut-off date (30 September 2024) the portfolio consisted of 223,530 performing loans, advanced to 340,024 borrowers, where the Average Principal Balance (per Loanparts) is Eur26,842 and the Average Principal Balance (per Borrower) is Eur17,645. Loan Purpose: Ratenkredit – 52.2%, Autokredit – 30.3%, Wohnkredit – 17.5%. The WA seasoning is 1.26 years.

EU Risk Retention: In compliance with Article 6 of Regulation (EU) 2017/2402, the Originator has undertaken to retain the first loss tranche on an ongoing basis, whilst any of the Notes remain outstanding and, where such retention does not amount to 5% of the nominal value of the securitised exposures, if necessary, other tranches having the same or a more severe risk profile than those transferred or sold to investors and not maturing any earlier than those transferred or sold to investors, such that the retention equals in total not less than 5% of the nominal value of the securitised exposures.

US Risk Retention: The Originator intends to rely on an exemption provided for in Section 20 of the US Risk Retention Rules regarding non-US transactions that meet certain requirements.

STS: The transaction is intended to qualify as a STS securitisation within the meaning of Article 18 of the Securitisation Regulation.

Compare/contrast: Noria DE 2024 FCT, SC Germany Consumer 2024-2