Hogan Lovells Advises on Securitisation First for Santander
01 July 2014
1 July 2014 - Hogan Lovells has advised Santander Global Banking & Markets and Citibank International plc as Arrangers and Joint Lead Managers in relation to a PLN 1,367 million Polish auto loan securitisation which closed on 27 June. This marks the first securitisation of Polish auto loan receivables by Santander Consumer Bank S.A.
Both the Class A Notes and Class B Notes are rated by Fitch and Moody's, offered in Polish zloty; and listed on the Irish Stock Exchange. The Class A Notes may also be listed on the Warsaw Stock Exchange.
The Hogan Lovells team advising was led by Julian Craughan (partner) and Piotr Zawislak (partner), supported by senior associate Sally Simmonds in London and associate Agata Szczepanczyk in Warsaw. Polish tax advice was provided by Counsel Zbigniew Marczyk.
Hogan Lovells has previously advised on a number of securitisations in Poland, including the first automotive ABS in Poland for Getin Noble Bank in 2012.
Commenting on the transaction, Julian said:
"The successful completion of this transaction marks Santander's first securitisation of Polish auto loan receivables".
Commenting on the transaction, Piotr said:
"We are pleased to be involved in this further development in the Polish securitisation market".
DLA Piper advised Santander Consumer Bank S.A., as originator on Polish and English law; and A&L Goodbody advised the issuer on Irish law.