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Clifford Chance and White & Case Advise on Innovative Financing for AASA Polska

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Clifford Chance’s Warsaw Office has advised Bank Zachodni WBK S.A. in connection with a credit facility granted to AASA Polska to finance its lending activities. White & Case advised AASA Polska on the financing, which was released on April 14, 2016.

According to Clifford Chance: “In many aspects this is an innovative transaction. First, the transaction is secured with consumer debt portfolios, which means that in many respects it resembles securitisation transactions  (e.g. as regards issues related to personal data protection, or debt management). Second, AASA Polska procures financing from various sources (including, inter alia, bonds, mezzanine financing). This required the preparation and negotiation of a complex agreement between the creditors and combining various categories of indebtedness."

The Clifford Chance team was led by Partner Andrzej Stosio, and its work was directly supervised by Counsel Irena Floras-Goode. The team itself also included lawyers Katarzyna Jakubiak, Mateusz Chmura, Anna Miernik, and Piotr Weclawowicz.

The White & Case team consisted of Partner Tomasz Ostrowski, Local Partner Rafal Kaminski, and Associates Michal Oles and Marta Osowska.