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International law firm Bryan Cave Leighton Paisner (BCLP) has again advised Bank11 für Privatkunden und Handel GmbH (Bank11) on a securitization of car loans with a portfolio volume of EUR 700 million (RevoCar 2021-1).

The notes are listed for trading on the Luxembourg Stock Exchange, and the most senior tranche is rated AAA by two rating agencies. As in previous years, the transaction was arranged by UniCredit.

“We are pleased to have advised Bank11 once again on this securitization transaction,” Dr. Thomas Prüm commented. The Frankfurt finance partner and his team have advised the bank on this financing nine time since 2014. “Each securitization is characterized by specific challenges and complexities due to the evolving legal landscape, which we successfully address together with the arranger and Bank11, from the first German STS securitization to the introduction of the Prospectus Regulation over COVID-19 jurisdiction in the previous year up to increasing digitalization.”

Bank11 für Privatkunden und Handel GmbH is a German credit institute based in Neuss/Germany. Founded in 2011, the bank specializes in sales financing and primarily supports medium-sized motor vehicle dealers by offering mobility and insurance services. Bank11 employs more than 350 people across Germany.

BCLP’s Frankfurt Finance Team was led by Partner Dr. Thomas Prüm with further support from Senior Associate Christian Birker (tax) and Associate Andrea Schwaiger (finance). 

Advisers to Bank11

Bryan Cave Leighton Paisner LLP (Frankfurt)
Dr. Thomas Prüm, Partner (Lead Partner, Finance)
Christian Birker, Senior Associate (Tax)
Andrea Schwaiger, Associate (Finance)

Press contact:

Nadine Szohner
Senior Marketing Coordinator
Bryan Cave Leighton Paisner LLP, Berlin
Tel.: +49 (0)30 684 096 170

This document provides a general summary and is for information/educational purposes only. It is not intended to be comprehensive, nor does it constitute legal advice. Specific legal advice should always be sought before taking or refraining from taking any action.