Alior Leasing securitises its receivables portfolio
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. As a result, a special purpose company (“the Issuer”) based in Ireland acquired from Alior Leasing sp. z o.o. receivables resulting from loans and operating leasing, paying with the funds raised through a private placement notes issue.
Notes issued by the Issuer (72% of the securitised portfolio’s value) were acquired by ING Bank Śląski S.A. The notes issue is underwritten by the European Investment Fund. The transaction was arranged jointly by UniCredit Bank AG and ING Bank N.V. Securitisation allows the company to diversify its funding sources and secure new financing totalling PLN 360 million. In order to execute the transaction, Alior Leasing sp. z o.o. extended a subordinated loan to the Issuer, which amounted to PLN 140 million.
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, says Krzysztof Bachta, President of Alior Bank’s Management Board, and Chairman of the Supervisory 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, Alior Leasing’s growth will be driven by its ability to obtain financing also outside the Group. This transaction marks the beginning of company’s aspirations, says Marcin Jaszczuk, Vice President of Alior Bank’s Management Board, responsible for subsidiaries including Alior Leasing.
Leasing remains one of the three strategic segments of Alior Bank Group activity. In 2018, new leasing sales were kept stable and high, amounting to over PLN 3 billion. Last year, the share of leasing in Alior Bank’s credit portfolio was 7%
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, says Krzysztof Bachta, President of Alior Bank’s Management Board, and Chairman of the Supervisory 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, Alior Leasing’s growth will be driven by its ability to obtain financing also outside the Group. This transaction marks the beginning of company’s aspirations, says Marcin Jaszczuk, Vice President of Alior Bank’s Management Board, responsible for subsidiaries including Alior Leasing.
Leasing remains one of the three strategic segments of Alior Bank Group activity. In 2018, new leasing sales were kept stable and high, amounting to over PLN 3 billion. Last year, the share of leasing in Alior Bank’s credit portfolio was 7%