CMC Automotive SIF Century Motor Company – Hyundai Lebanon first securitization transaction

Beirut, December 26, 2014: BSEC – Bemo Securitisation SAL and Fransa Invest Bank SAL (co-placement agent) are pleased
to announce the closing of CMC Automotive SIF, Century Motor Company’s first securitization transaction and the first
securitization for a Korean brand automobile dealer in the Lebanese market.
BSEC has launched and co-placed with Fransa Invest Bank (co-placement agent) an auto-loan securitization issuance for Century
Motor Company SAL (CMC), the exclusive distributor of Hyundai vehicles in Lebanon (“the Transaction”). The transaction consists of
securitizing a portfolio of auto loans valued at USD 8.6 million granted by Century Motor Company to its clients, including car rental
companies, corporate and individual clients.
CMC Automotive SIF is established as a securitization investment fund with two classes of Notes: senior Class A Notes with an
expected weighted average life of 3.75 years, and a subordinated Class B Note. The structure provides protection to Class A
Noteholders under several credit enhancements. In addition, it has the flexibility to perform subsequent issuances under the same
platform, the same credit features and issuance terms.
By issuing the Transaction to strengthen its balance sheet, CMC is at the same time reiterating its commitment to Hyundai’s culture
“New Thinking, New Possibilities” that is extending today in CMC’s governance to financial management.
“We always strive to ensure the best car sales services to our clients and prospective clients. Therefore, we are glad to work closely
with BSEC, and establish this financing platform that supports our sales activity and customers’ satisfaction” said Mr. Walid Rasamny,
Chairman and CEO of CMC.
“We are proud to offer CMC our expertise in securitization and we are in this respect committed to provide our clients with tailored
financial solutions that best meet their needs and fit their views” said Mr. Ronald Yazbeck, CEO of BSEC. Mr. Yazbeck added: “We
are very pleased with the complete success of the Transaction. We are pleased as well with FIB’s efficient contribution to this
success”.
CMC Automotive SIF has been set-up under the provisions of Law 705/2005 following the approval of the Capital Markets Authority.
The transaction is structured, arranged and managed by BSEC. The issuance was co-placed with Fransa Invest Bank and
underwritten by Fransabank, Fransa Invest Bank, BLC Bank, BLOM Invest Bank, FNB and Banque Bemo. The legal counsel of
BSEC on the transaction is Dr. Nasri Antoine Diab.
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