Bumper 1

In December 2006 the first securitisation transaction was completed by LeasePlan named Bumper 1. The initial value of the transaction was EUR 1,109 million representing the lease receivables and related residual value receivables originated by LeasePlan Nederland N.V. (the “originator”) and sold to LeasePlan Securitisatie B.V. in 2006. In September 2008 a tap-issue was completed to increase the value of Bumper 1 to EUR 1,274.3 million. The debt securities issued by Bumper 1 B.V. were divided into four classes: A-notes, B-notes, C-notes and D-notes, whereby the A-notes were rated AAA and the B-notes AA by Fitch Ratings.

Early 2011 the transaction was unwound and replaced by a new Dutch asset backed securitisation transaction named Bumper 4.

Investor Reports


Rating Agency Updates