Bumper 2

LeasePlan completed the second asset backed securitisation transaction named Bumper 2 in March 2008. Lease receivables and related residual value receivables for a total amount of EUR 875.6 million originated by LeasePlan Deutschland GmbH (the “originator”) were sold to Bumper 2 S.A., a bankruptcy remote company incorporated for the purpose of securitisation transactions under the laws of Luxembourg.

The debt securities issued in March 2008 were divided into A-notes (EUR 663.3 million), B-notes (EUR 74.4 million) and C-notes (EUR 137.9 million).The notes were listed on the Irish Stock Exchange. The transaction was assessed by Standard & Poor’s.

In March 2011 Bumper 2 S.A. bought back all Bumper 2 notes issued in 2008 and issued new notes. The debt securities issued in March 2011 are divided into A-notes (EUR 602.4 million), B-notes (EUR 47.9 million) and C-notes (EUR 225.9 million) which are listed on the Irish Stock Exchange. The transaction was assessed by Standard & Poor’s and Fitch Ratings.

Bumper 2 was fully unwound in July 2015.

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