International law firm Clifford Chance has successfully advised Volkswagen Financial Services on its first securitisation transaction in the Polish market, whereas Volkswagen Financial Services Polska Sp. z o.o. acted as Originator and Seller of Polish law lease receivables in a total programme amount of up to PLN 3,000,000,000.

The transaction meets the “golden status” under the Securitisation Regulation and is verified to meet the simple, transparent and standardized requirements. The purchase of the lease receivables portfolio is being financed via the issuance of registered global notes, in cleared and uncleared form, to a consortium of leading international banks as Investors.

The Clifford Chance team comprised Of counsel Jan Zdzienicki, counsel Mateusz Chrusciak and associate Krzysztof Burda (all Global Financial Markets, Warsaw) in relation to Polish law, counsel Tomasz Szymura (Corporate, Warsaw) in relation to Polish tax matters and partner Oliver Kronat, senior associate Antonia Walter and associate Alexander Metzing (all Global Financial Markets, Frankfurt) in relation to German law.

Walkers LLP (Andrew Traynor) advised in relation to Irish law.