Translation glossary: DE-EN

In addition to its traditional buyer credit scheme, Hermes offers a securitisation guarantee.The purpose of the securitisation guarantee, which is available in conjunction with a buyer credit covered loan only, is to facilitate refinancing options for lenders of the underlying covered loan by providing significantly enhanced terms. Under the terms of the securitisation guarantee, the beneficiary (refinancing institution) obtains 100% cover (as opposed to 95% under the buyer credit guarantee) on enhanced terms and conditions of an “on demand” guarantee. The securitisation guarantee structure enhances the underlying buyer credit cover for refinancing purposes only (i.e. for the benefit of the refinancing institution) but leaves the underlying relationship between Hermes and the original covered lender unchanged.
Over the last 12-18 months, "we" have seen a notable increase of interest in the securitisation guarantee structure and a number of completed transactions which have been refinanced through this mechanism and/or used to support the issue of German covered bonds.

Wagennutzkilometer

vehicle kilometers operated

němčina -> angličtina

Translation glossary: DE-EN

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