Advising Fitch Ratings on the very first in Ukraine $110 m auto loan-backed securitization made by Privatbank
Client: Fitch RatingsVasil Kisil & Partners advised Fitch Ratings on the Ukrainian law matters of the first ever auto loan-backed securitization in Ukraine.
Privatbank commercial bank is the first Ukrainian bank to sell notes backed by auto loans for the amount of USD 110 million The auto loan-backed securitization was successfully completed by two consecutive placements of notes.
This auto loan-backed securitization is the second securitization in Ukraine. In February 2007 Vasil Kisil & Partners already advised Fitch Ratings on the first ever Ukrainian securitization backed by a pool of mortgage loans for the amount of USD 180 million.
In the course of the auto loan-backed securitization transaction Vasil Kisil & Partners drafted a second legal opinion on the securitization transaction, including the true-sale and related matters, as well as issues related to write-off assets from the balance sheet of Privatbank, acting as the originator. VKP also rendered advice on transaction-related risks and mitigation thereof.
The team of Vasil Kisil & Parthers included Denis Lysenko, partner, and Yulia Kyrpa, associate.
The Banking & Finance practice of Vasil Kisil & Partners is a rapidly developing practice of the firm, recommended by the last editions of the leading international handbooks – PLC Which Lawyer? and IFRL 1000.
Privatbank commercial bank is the first Ukrainian bank to sell notes backed by auto loans for the amount of USD 110 million The auto loan-backed securitization was successfully completed by two consecutive placements of notes.
This auto loan-backed securitization is the second securitization in Ukraine. In February 2007 Vasil Kisil & Partners already advised Fitch Ratings on the first ever Ukrainian securitization backed by a pool of mortgage loans for the amount of USD 180 million.
In the course of the auto loan-backed securitization transaction Vasil Kisil & Partners drafted a second legal opinion on the securitization transaction, including the true-sale and related matters, as well as issues related to write-off assets from the balance sheet of Privatbank, acting as the originator. VKP also rendered advice on transaction-related risks and mitigation thereof.
The team of Vasil Kisil & Parthers included Denis Lysenko, partner, and Yulia Kyrpa, associate.
The Banking & Finance practice of Vasil Kisil & Partners is a rapidly developing practice of the firm, recommended by the last editions of the leading international handbooks – PLC Which Lawyer? and IFRL 1000.