16 August 2017

Cembra Money Bank refinances personal loan portfolio of eny Finance



On 21 July 2017, Cembra Money Bank AG (Cembra) signed an agreement to refinance a CHF 42 million personal loan portfolio from eny Finance AG. eny Finance AG is a Swiss pure online personal loan provider. Cembra has also agreed to partially refinance future personal loan volume from this provider. The deal is structured through a special purpose vehicle (SPV) that is fully owned and consolidated by Cembra. The transaction was closed on 2 August 2017. By this transaction, eny Finance gets access to an additional refinancing source for its growing consumer credit portfolio. At the same time, eny Finance remains fully independent and acts as self-standing provider of consumer loans.

Walder Wyss acted as legal advisor to Cembra with regard to all legal aspects of the transaction. The team consisted of Lukas Wyss (Partner, Banking & Finance), Markus Pfenninger (Partner, Banking & Finance), Maurus Winzap (Partner, Tax), Reto Jacobs (Partner, Antitrust Law), Fabienne Limacher (Associate, Tax), Roger Ammann (Associate, Banking & Finance) und Fanny Sutter (Trainee, Banking & Finance).

News

News

16 August 2017

Cembra Money Bank refinances personal loan portfolio of eny Finance

On 21 July 2017, Cembra Money Bank AG (Cembra) signed an agreement to refinance a CHF 42 million personal loan portfolio from eny Finance AG. eny Finance AG is a Swiss pure online personal loan provider. Cembra has also agreed to partially refinance future personal loan volume from this provider. The deal is structured through a special purpose vehicle (SPV) that is fully owned and consolidated by Cembra. The transaction was closed on 2 August 2017. By this transaction, eny Finance gets access to an additional refinancing source for its growing consumer credit portfolio. At the same time, eny Finance remains fully independent and acts as self-standing provider of consumer loans.

Walder Wyss acted as legal advisor to Cembra with regard to all legal aspects of the transaction. The team consisted of Lukas Wyss (Partner, Banking & Finance), Markus Pfenninger (Partner, Banking & Finance), Maurus Winzap (Partner, Tax), Reto Jacobs (Partner, Antitrust Law), Fabienne Limacher (Associate, Tax), Roger Ammann (Associate, Banking & Finance) und Fanny Sutter (Trainee, Banking & Finance).