By accessing the Zeltner & Co. GmbH website and the services, products, information, opinions, materials, features, etc. contained or described therein (hereinafter referred to as "Information"), you declare that you have understood and agree to the Terms of Use. Please also read the additional legal notices for the services and products you claim.
The terms of use, legal notices and all information on the Zeltner & Co. GmbH website are subject to change without notice. You should therefore review these Terms of Use periodically. If you do not understand or agree with any provision of the Terms of Use, please exit the Zeltner & Co. GmbH website.
The Zeltner & Co. GmbH website is primarily intended for natural persons and legal entities domiciled in Switzerland. It is not directed to any person or entity in any jurisdiction where, by reason of that person's nationality, residence or otherwise, access to the websites of foreign financial service providers or their services or products is prohibited.
Persons in respect of whom such prohibitions apply must not access the Zeltner & Co. GmbH website.
Financial services and products of Zeltner & Co. GmbH may only be distributed in certain countries and/or to certain persons. Restrictions can be found in the product documents such as the fund contracts, the key information documents, the factsheets, the sales prospectuses or in a distribution authorization list made available on the website. Persons to whom the provision of financial services or the distribution of all or certain products of Zeltner & Co. GmbH is not permitted may not access websites containing information about the products concerned.
Specifically, information contained on the Zeltner & Co. GmbH website may not be distributed and/or redistributed to persons who are U.S. persons as defined in Regulation S under the U.S. Securities Act of 1933.
The information published on the Zeltner & Co. GmbH website is exclusively for information and marketing purposes according to Art. 68 FinSA towards persons who are not subject to any restrictions regarding the access to the Zeltner & Co. GmbH website due to their domicile. They represent neither advice - neither in legal nor in fiscal, economic or other respect - nor a recommendation or an offer for the purchase or sale of products, or for the conclusion of transactions or other legal business.
The fact that you access the Zeltner & Co. GmbH website does not make you a client.
Zeltner & Co. GmbH expressly states that it is not obligated to accept, execute or acknowledge any orders, revocations of orders, authorizations for business transactions or other legal declarations that are transmitted via the Zeltner & Co. GmbH website.
There are risks associated with financial services and investments, including the potential loss of capital employed. The price, value and yield of investments can decrease as well as increase. Investments in foreign currencies are also subject to exchange rate fluctuations. The risks are described in detail in the respective current product documents, which should be read carefully before using financial services of Zeltner & Co. GmbH or purchasing Zeltner & Co. GmbH products.
Past performance is not indicative of future performance and offers no guarantee of success in the future. Performance data has been calculated on the basis of reinvestment of any distributions and, in case of doubt, without taking into account commissions and costs charged on the issue and redemption of units, which have a negative impact on performance. The calculation is made in the product currency and may increase or decrease as a result of exchange rate fluctuations.
Zeltner & Co. GmbH applies the usual business care in the preparation of the information on the Zeltner & Co. GmbH website. Zeltner & Co. GmbH does not guarantee that all information on the Zeltner & Co. GmbH website is up-to-date, correct, accurate or complete. Zeltner & Co. GmbH reserves the right to update, change or delete information at any time without notice. The opinions and estimates expressed on the Zeltner & Co. GmbH website reflect the view of Zeltner & Co. GmbH at the time of publication and do not constitute legal, tax or other advice of a general or specific nature.
The information on the Zeltner & Co. GmbH website is provided "as is" and "as available". Zeltner & Co. GmbH disclaims any warranty that access to the Zeltner & Co. GmbH website or individual functions on the Zeltner & Co. GmbH website will be uninterrupted or error-free, that defects will be corrected, or that viruses or other harmful components will not be transmitted in connection with the use of the Zeltner & Co. GmbH website.
Zeltner & Co. GmbH is not liable for the topicality, correctness, accuracy or completeness of the information on the Zeltner & Co. GmbH website. As far as legally permissible, Zeltner & Co. GmbH excludes any liability for direct and/or indirect damages as well as loss of profit, which result from the use, the access to the information of the Zeltner & Co. GmbH website, respectively to links to websites of third parties, or from the impossibility of the use or the access. This exclusion of liability also applies to all damages that are due to the fact that third parties have manipulated the Zeltner & Co. GmbH website. In addition, Zeltner & Co. GmbH disclaims any liability for manipulation of your computer system by third parties.
"Zeltner & Co. GmbH" as well as the corresponding logos are trademarks or protected intellectual property rights, namely of Zeltner & Co. GmbH.
All information on the Zeltner & Co. GmbH website is protected by intellectual property rights and belongs to Zeltner & Co. GmbH or third parties. The information is free for private use only. No part or information of the Zeltner & Co. GmbH website is designed in such a way that a license or a right to use a registered trademark, a logo, a picture or any other content protected by intellectual property rights is granted. Without Zeltner & Co. GmbH written consent, it is prohibited to systematically retrieve any content from the Zeltner & Co. GmbH website in order to directly or indirectly compile a collection, database or directory.
Zeltner & Co. GmbH reserves all intellectual property rights (in particular copyrights and trademarks) with respect to all information and documents on the Zeltner & Co. GmbH website and will use all reasonable efforts to enforce such rights.
This website uses cookies, which are necessary for the technical operation of the website and which are always set. Cookies to personalize content and analyze access to our website are set automaticly by accessing the Zeltner & Co. GmbH website. We also share information about your use of our website with our social media, advertising and analytics partners.
The Zeltner & Co. GmbH website may contain animation which are playing sounds.
The Zeltner & Co. GmbH website may contain third party content and links to third party websites. Links from the Zeltner & Co. GmbH website to third party websites are provided for your information and convenience. These websites of third parties are completely beyond the influence of Zeltner & Co. GmbH, which is why Zeltner & Co. GmbH does not assume any warranty and responsibility for correctness, quality, completeness and legality of the contents of such websites as well as for possible offers and services contained on them. The responsibility for this lies with the operator of the websites accessed via the links. Zeltner & Co. GmbH cannot be made liable for it. Establishing connections to these websites is at the user's own risk.
Z Securitisation is a bank independent and insolvency protected Securitisation Platform in Luxembourg based on the Securitisation Law of 22 March 2004, as amended. Our securitisations can be defined as the solution between initiator and investor requirements and the regulatory framework.
Since the implementation of the Luxembourg Securitisation Law of 22 March 2004, a amended ("Securitisation Law"), the Luxembourg securitisation market has developed significantly. The Luxembourg legislature has managed to create a modern framework that offers initiators and institutional investors a high level of flexibility and comprehensive insolvency protection mechanisms. This means in detail: In addition to the permissibility of all asset classes and securitisation instruments, our clients are now offered the option of creating a separate Compartment (cell) within Z Securitisation SA. This means that the assets contributed to its Compartment are independent of Z Securitisation SA and of its other Compartments and thus ringfenced. In addition, the respective Compartments are subject to be reviewed by a local auditing firm and have to meet corresponding organisational duties. Luxembourg has ensured transparent and unambiguous legal certainty for institutional investors as well as reliability within the securitisation market and has established itself in recent years as the most attractive securitisation market in Europe.
The Luxembourg Securitisation Law stands for flexibility and legal certainty. Z Securitisation SA is a Securitisation Platform for institutional clients with the aim of realising individual Securitisation concepts.
Transformation of illiquid (real) assets into clearable securities
Improving the ability to raise capital
Diversification and reorientation of funding sources, investor base and transaction structures
Efficient access to the capital markets
The Luxembourg Securitisation Law does not impose any restrictions on the basis of assets that can be securitised.
Z Securitisation SA andstructure and implement securitisations by setting up Compartments. We aim to accompany our initiators and the institutional investors individually and holistically throughout the entire securitisation process.
The possibilities of securitisation are broad. Basically, any tangible and intangible asset can be securitised with sufficiently determinable values or future cash flows, such as:
There is a high level of investor protection and issuer default protection. The use of depository bank and trustee are possible. The investors’ rights and obligations are limited to their specific Compartment (ringfenced). In addition, a separate liquidation of a Compartment is possible.
There is almost complete tax neutrality, i.e. a Compartment is treated beneficial from a tax point of view. All payments made by the Compartment in relation to issued securities (be they bonds or shares) are fully tax-deductible expenses for the Compartment. Furthermore, Securitisation Vehicles and it’s Compartments benefit in principle from a large number of Luxembourg double taxation treaties.
We are the right partner if you want to create your own Securitisation. Together with our Calculation and Administration Agent (Servicer), we realise your strategy in a tailor made Securitisation Structure. After successful structuring, our Servicer will take care of the entire setup and ongoing administration of your Compartment. And you have a free hand for a successful management of the underlying and the distribution of the Compartment.
represents a limited number of tradable and/or non-tradable assets that are bought by a Compartment respectively transferred by a transferor to the Compartment. This means that a securitisation is a transaction in which a securitisation vehicle, acting in the name and behalf of a specific Compartment, acquires risks related to certain claims or assets and finances this by issuing securities (bonds, notes, shares, profit participation rights, etc.) whose returns are linked to those risks. The Compartment issues the corresponding securities, which is priced with the value of the underlying assets and from the payments and income received (e.g. interest, dividends, rents, charter rates).
The individual requests of our institutional clients serve as a profound basis for our services. Together with our clients, we analyse the key terms and conditions of the securitisation and the requested timing of the transaction. Based on these requests, we initiate the creation and establishment of the Compartment. Afterwards, our servicer executes the entire administration and calculation duties.
Compartments are ringfenced structures with no legal personality under a securitisation platform setup under the Luxembourg Securitisation Law. Compartments can issue a variety of securities and could be setup as fully clearable or in a registered form. Compartments issued by Z Securitisation SA and administered by PSI Services SA are for (semi-)institutional investors, and therefore do not require approval from the Luxembourg Financial Markets Authority (Commission de Surveillance du Secteur Financier (“CSSF”)). An approval would only be required if securities are issued to the public on a continuous basis.
