LeasePlan Corp. N.V. is preparing its seventh securitization of European commercial vehicle leases, this time with €549.1 million in new notes through its German subsidiary.

LeasePlan Deutschsland GmbH’s Bumper 7 S.A. trust will be collateralizing auto lease receivables and residual value cash flows topping €720 million. The notes will be issued through a Class A stack totaling €500 million and a Class B tranche for €49.1 million.

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