The Bank of Cyprus Group has announced the completion of a
€689.4 million securitisation of performing leasing receivables in
Greece.
The €638.4 million securitised portfolio is made up of €363.9
million of Class A notes, rated AAA by Moody’s, while unrated Class
B and Class C notes amount to €274.4 million and €51.1 million
respectively.
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The notes were issued by Misthosis Funding plc, a special
purpose vehicle registered in England and Wales which will also be
listed on the Irish Stock Exchange. The transaction was arranged by
UBS Investment Bank.
This latest lease receivables securitisation is the second such
announcement in as many weeks, with Volkswagen Leasing having
revealed plans to launch a €475 million securitisation of German
vehicle leases last week.
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