Securitisation vehicle · Luxembourg
KARTONE
A layered structure, built tranche by tranche.
Illustrative information only – not an offer or solicitation to buy securities.
The company
One vehicle.
Many compartments.
Kartone acquires portfolios of receivables and finances them by issuing notes to professional investors.
Kartone Securitisation S.à r.l. is governed by the Luxembourg law of 22 March 2004 on securitisation. Each transaction sits in its own compartment, and the assets of a compartment are available only to the investors and creditors of that compartment.
Structure
Built in layers.
Like cardboard, a securitisation is made of layers.
Senior notes are paid first. Junior notes absorb losses first. Each compartment has its own structure.
- AcquisitionA compartment buys a portfolio of receivables from an originator.
- IssuanceIt funds the purchase by issuing notes in several classes.
- ServicingA servicer collects payments and reports on the portfolio.
- DistributionCollections are paid to noteholders, senior classes first.
Transactions
Coming soon.
The first compartments are being prepared.
Each transaction will sit in its own compartment, legally segregated from the others. Details will be published here once the notes are issued.
- Compartment 1First transactionUpcoming
- Compartment 2In preparationUpcoming
Contact
KARTONE
2, Place de StrasbourgL-2562 Luxembourg