Bumper is LeasePlan's securitisation programme. The main objective of Bumper is to increase funding diversification allowing LeasePlan to tap an additional source of liquidity. The Bumper transactions are auto-ABS transactions backed by lease receivables and related residual value receivables originated by various LeasePlan subsidiaries. The transactions are not structured with an aim of obtaining off-balance sheet treatment, only the higher rated notes were sold to external investors and the subordinated notes were retained by the group.
For further information, please contact Sanna van Gennep, Director Structured Finance & Securitisation, at +31 36 529 3445.