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Bumper 8 Finance Plc: 08 February 2017


The Issuer will make payments on the notes from an initial portfolio comprising Lease Receivables and RV Claims originated by LeasePlan UK Limited which will be purchased by the Issuer on the Closing Date. Additional portfolios may be purchased by the Issuer during the Revolving Period in accordance with the terms described in the prospectus.

The initial portfolio consists of 40,588 lease agreements (13,519 lessees), where Business sector (by no. of lease agreements / %age of discounted balance): SME 21,711/55.97%; Corporate 16,944/40.02%; Govt 1,933/4.01%. Product Type: Operating Lease 33,152/82.42%; Finance Lease 5,739/13.20%; Contract Purchase 1,161/3.19%; Lease Purchase 536/1.18%. The top 1 client accounts for 2.00% of discounted balances, the top 10 for 15.08% and the top 50 for 31.86%. The WA seasoning is 14.23 months. Geographic Region by discounted balance): South East 26.80%, South West 12.77%, West Midlands 11.18%, North West 11.09% and London 10.96%.

Significant Investor: LPUK will, on the Closing Date, purchase 100% of the Class C Notes.

CRR 405: On the Closing Date, LPUK will, as an originator for the purposes of the CRR, retain a material net economic interest of not less than 5% in the securitisation (representing downside risk and economic outlay) in accordance with the text of each of Article 405(1)(d) of Regulation (EU) No 575/2013 (the Capital Requirements Regulation or CRR), Article 254(2)(a) of Regulation (EU) No. 2015/35 (the Solvency II Regulation) and Article 51(1)(a) of Regulation (EU) No 231/2013.

Compare/contrast: Bumper 5, E-Carat PLC - Series 7, Motor 2016-1