Global law firm White & Case LLP has advised Bank Deutsches Kraftfahrzeuggewerbe (BDK), a subsidiary of Société Générale S.A., on a €750 million asset-backed securities (ABS) auto loans transaction.
"The cross-border White & Case team advised BDK on its previous €600 million ABS auto loans deal in 2024 and has now supported the bank on this follow-up transaction" said White & Case partner Dennis Heuer, who co-led the Firm's deal team.
The bearer bonds have a total nominal value of €750 million and are secured by auto loan receivables originated by BDK. The issuer is Frankfurt-based special purpose vehicle Red & Black Auto Germany 12 UG. The transaction was arranged by Société Générale S.A., which also acted as lead manager. The bonds have been rated by DBRS and Fitch Ratings.
The White & Case team that advised on the transaction was led by partner Dennis Heuer (Frankfurt) and local partner Claire-Marie Mallad (Frankfurt) and included partner Ingrid York (London), counsel Alexander Born (Frankfurt), associate Syliva Julius (London) and transaction lawyer Bojan Bajalovic (Frankfurt).
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