White & Case advises CSC on Stellantis Bank’s €1 billion auto lease securitisation

Global law firm White & Case LLP has advised CSC Trustees GmbH as trustee and CSC Trustees Limited as expectancy rights trustee (together CSC) on a €1 billion asset-backed securities (ABS) transaction of auto lease receivables originated by Stellantis Bank S.A., German branch (Stellantis).

"Our role advising CSC on this new auto lease securitisation follows our advice to CSC on Stellantis' €1 billion securitisation of auto lease receivables and its €475 million securitisation of auto loan receivables in 2025," said White & Case partner Dennis Heuer, who co-led the Firm's deal team.

The bearer bonds have a total nominal value of €1 billion and are secured by auto lease receivables originated by Stellantis. The issuer is Luxembourg special purpose vehicle ECARAT DE S.A., Compartment Lease 2026-1. The bonds have been rated by DBRS and S&P.

All bonds will be listed on the official list and admitted to trading on the regulated market of the Luxembourg Stock Exchange.

The White & Case team in Frankfurt which advised on the transaction was led by partners Dennis Heuer and Claire-Marie Mallad and included associate Bernhard Gaertner.

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