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Hogan Lovells Advises on Securitization of PLN 2.2 Billion Lease Receivables by EFL

Hogan Lovells Advises on Securitization of PLN 2.2 Billion Lease Receivables by EFL

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Hogan Lovells has advised arrangers Credit Agricole Corporate & Investment Bank and StormHarbour Securities on the securitization of a portfolio of lease receivables worth PLN 2.2 billion, originated by Europejski Fundusz Leasingowy.

According to Hogan Lovells, “in accordance with the terms of the transaction, EFL Lease ABS 2021-1 DAC, acting as the issuer (SPV), issued notes with a total nominal value of PLN 1.7 billion, secured by lease receivables of PLN 2.2 billion, purchased from Europejski Fundusz Leasingowy. The program included leasing agreements for new and used fixed assets – cars, trucks, and equipment and machines. The European Investment Bank, which is the leading investor, acquired issued notes in the amount of PLN 0.9 billion. The remaining notes were covered by a guarantee granted by the European Investment Fund and purchased by ING Bank Slaski.”

The Hogan Lovells team included Warsaw-based Partners Piotr Zawislak and Andrzej Debiec, Counsel Zbigniew Marczyk, and Senior Associate Mateusz Dereszynski with the help of a further team in London.

Hogan Lovells did not reply to our inquiry on the matter.

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