Norton Rose Fulbright advises on first-of-its-kind PLN 1.35 billion public securitisation by VEHIS Finanse

Global law firm Norton Rose Fulbright has advised Santander Corporate & Investment Banking and Jefferies International Limited, acting as joint lead managers and co-arrangers, on a landmark true sale securitisation of lease agreements originated by Vehis Finanse sp. z o.o.

The transaction included a portfolio of vehicle leasing agreements, with a total nominal value of PLN 1.35 billion. These were sold to an Irish Designated Activity Company (DAC) which was financed by the European Investment Bank, the European Investment Fund and Banco Santander S.A.

The securitised portfolio had previously been financed through a warehouse financing structure, where the investors included Banco Santander S.A. and an investment entity from the Jefferies International Limited Group. This marks a significant milestone for the Polish financial market as it is the first instance of a warehouse transaction being transformed into a regular public securitisation.

VEHIS Finanse is a modern financial services company specialising in innovative vehicle financing solutions. The company offers flexible leasing and credit options tailored to individual and business clients, making car ownership more accessible and convenient. The strategic investor in VEHIS Finanse is Enterprise Investors, one of the oldest private equity funds in Central and Eastern Europe, managing an investment portfolio worth €2.5 billion.

The Warsaw-based team was led by consultant Piotr Zawiślak and included associate Julia Pycka. The team worked under the supervision of Grzegorz Dyczkowski, head of the Warsaw office and the firm’s Warsaw banking and finance practice.