UlfKreppel

Partner

(T) + 49.69.9726.3939

With more than 20 years of product experience, Ulf Kreppel's practice focuses on securitization and structured finance involving a broad variety of asset classes. He has worked with financial institutions as well as alternative capital providers (in their various roles). His experience includes complex and multijurisdictional, public and private traditional and synthetic securitizations, asset-based lending, and covered bond financings that have been part of stand-alone term transactions, warehousing deals, or asset-backed commercial paper programs. Ulf advises on a broad range of asset classes, including auto loans and leases, commercial and noncommercial real estate loans, and trade receivables. He also represents two major European financial institutions as counsel for their asset-backed commercial paper programs (ABCP).

During his professional career, Ulf has advised on a number of innovative and market-first transactions and participated in several legislative initiatives, most recently in relation to implementation of a legal framework for simple, transparent, and standardized securitizations and the blockchain-based settlement of securities under an ABCP program. As an integrated part of his practice, he also advises on derivatives (including credit derivatives) and has significant experience dealing with regulatory, capital markets, and tax-related issues pertaining to structured financings. Most recently, Ulf also has been advising on IBOR transition matters.

Ulf is recognized as a leading German lawyer in the areas of capital markets, structured finance, and securitization by IFLR 1000, JUVE, Chambers, and PLC Which lawyer? He has coauthored several articles on the legal risks and structural solutions for securitizations in Germany.

Experience

  • Volkswagen Bank renews auto-loan securitization programme in compliance with STS requirements under EU Securitization RegulationJones Day represented Volkswagen Bank GmbH, a subsidiary of Volkswagen AG, as originator, in connection with an auto loan securitization programme for the issuance by Driver Master S.A. (acting with respect to its Compartment 1) of up to €10 billion asset-backed floating rate Class A Notes and asset-backed floating rate Class B Notes.
  • LBBW issues blockchain-based asset-backed securitiesJones Day advised Landesbank Baden-Württemberg (LBBW), a universal bank and the central bank of the savings banks in Baden-Württemberg, Saxony, and Rhineland-Palatinate in Germany, on its pilot project regarding the blockchain-based issuance and redemption of asset-backed commercial paper (ABCP).
  • Volkswagen Bank securitizes Italian auto loans for first timeJones Day advised Volkswagen Bank GmbH in connection with its first Italian securitization relating to auto loans granted by Volkswagen Bank, Italian Branch.
  • BNP Paribas, Finint, and UniCredit act as arrangers in trade receivables securitization facility for leading Italian-based industrial groupJones Day advised BNP Paribas, along with Finanziaria Internazionale (Finint), and UniCredit, as arrangers, in connection with a €300 million trade receivables securitization transaction originated by a leading global Italian-based industrial group through the issuance of asset-backed securities with a partly paid structure by a securitization vehicle established pursuant to law 130/1999.
  • Volkswagen Financial Services establishes auto loan securitization program Driver MasterJones Day advised Volkswagen Financial Services in connection with the establishment of the auto loan securitization program Driver Master S.A.
  • Volkswagen Financial Services, Citigroup Global Markets Limited, and Lloyds Bank securitizes German car loansJones Day advised Volkswagen Financial Services and two joint lead managers, Citigroup Global Markets Limited, and Lloyds Bank plc, in connection with the €750 million (US$849.6 million) Driver 13 auto loan securitization.
  • UniCredit Bank AG provides financing to Alcatel USJones Day advised UniCredit Bank AG, as mandated lead arranger, in connection with a trade receivables financing provided to Alcatel US whereby Alcatel is selling, on a revolving non-recourse basis, receivables owed by Sprint Communications to Aros Funding.
  • Speaking Engagements

    • September 27 - 28, 2018
      TSI Congress 2018—Securitisation and Asset-Based Finance in Times of Change
    • September 28 - 29, 2017
      TSI Congress 2017
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