Walder Wyss advises HSH Nordbank AG on a securitisation transaction of trade receivables originated in Germany, Sweden and Switzerland
4 February 2015 – Alongside with Clifford Chance Frankfurt (lead) and Advokatfirman Vinge, Walder Wyss has advised HSH Nordbank AG on the SME securitisation of trade receivables acquired in Germany, Sweden and Switzerland by ABS Global Factoring AG from local originators via Smart Fact S.A., a securitisation company in Luxembourg.
In the context of this transaction, German and Swiss trade receivables were transferred via a German factoring company to Smart Fact S.A. Swedish trade receivables were transferred via a Swedish factoring company to Smart Fact S.A. Following similar purchases, this transaction was another successful expansion of the securitisation refinancing platform for ABS Global Factoring AG through Smart Fact S.A.
Walder Wyss advised on all Swiss legal and Swiss tax aspects of the transaction. The Walder Wyss team was led by Johannes A. Bürgi (Partner, Banking Finance) as well as by Thomas Meister (Partner, Tax) and further included Elisabeth Moskric (Counsel, Banking Finance), Jan Hoffmann (Associate, Banking Finance) and Janine Corti (Associate, Tax).