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Alior Leasing securitises its receivables portfolio

  •  
    Date: 25 September 2019

EIF and Alior Leasing launched securitisation transaction in Poland

  • The programme is worth PLN 500 million (EUR 116.3 million) is the first securitization for Alior Leasing.  
  • The EIF’s involvement makes it possible for international investors to participate in the securitization  

Alior Leasing sp. z o.o., leasing subsidiary within Alior Bank Group, concluded a securitisation transaction concerning part of its receivables portfolio, which amounted to PLN 500 million.

The securitisation allows the company to diversify its funding sources and secure new financing totalling PLN 360 million.

The European Investment Fund (EIF), part of the EIB Group, is participating in the transaction as a guarantor of PLN 360m (c. EUR 83m) of Senior Notes. The guarantee provided by EIF, which is the ultimate risk taker of the notes, has also made possible to for the international investors to participate in the securitization. Notes issued by the Issuer (72% of the securitised portfolio’s value) were acquired by ING Bank Śląski S.A. The transaction was arranged jointly by UniCredit Bank AG and ING.

The securitisation transaction allows the company to diversify its funding sources and consequently will contribute to improving access to finance for Poland’s micro-enterprises, SMEs and Mid-Caps in all range of sectors.

Pierluigi Gilbert, EIF Chief Executive: “This new transaction demonstrates the EIF’s commitment to help SMEs across Europe to grow and create jobs, including here in Poland. I am pleased that EIF’s involvement could act as a catalyst for the participation of private investors in the transaction. As banks and leasing companies increasingly turn to international investors to place asset-backed securities, more funding is made available to the Polish economy. Innovative companies can take advantage of an easier access to finance and confidently develop their business plans.” 

Krzysztof Bachta, President of Alior Bank’s Management Board, and Chairman of the Supervisory Board at Alior Leasing sp. z o.o.: "The securitisation allowed Alior Leasing sp. z o.o.  to obtain medium term financing from an entity outside Alior Bank Group. It is a big step towards independence and motivation for building the organisation’s ability in obtaining external funding. The next important goal for the leasing company is to further diversify the financing sources for the company’s operations. The fact that ING Bank Śląski S.A. and the European Investment Fund decided to participate in this securitisation transaction proves that Alior Leasing is a reliable business partner, and its business has been built on good foundations."

Mieczysław Woźniak, President of the Management Board at Alior Leasing sp. z o.o.: "Thanks to Alior Bank Group’s determination to build its leasing company, within the span of only 3 years Alior Leasing sp. z o.o. managed to become one of the 10 largest leasing companies in Poland. It is a very big success  for such a young organisation, but we don’t intend to slow down in the future. Among other factors, our growth will be driven by our ability to obtain financing also outside the Group. This transaction marks the beginning of our aspirations."

NOTES TO EDITORS:

Alior Leasing (AL)
AL is the leasing company in Poland and is fully owned by Alior Bank S.A., one of the 10 largest banks in Poland.

European Investment Fund (EIF)
The European Investment Fund (EIF) is part of the European Investment Bank group. Its central mission is to support Europe's micro, small and medium-sized businesses by helping them to access finance. EIF designs and develops both venture and growth capital, guarantees and microfinance instruments, which specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth and employment.

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