PLMJ advises Banco CTT and 321 Crédito on a car financing securitisation deal

PLMJ advised Banco CTT and the CTT group's subsidiary 321 Crédito - Instituição Financeira de Crédito, in an operation to securitise a car loans portfolio for €250 million. This operation will allow the volume of risk weighted assets to be reduced by €185 million euros and the securitisation operation was more than double the offer.

 The PLMJ team that advised on the transaction was headed by Gonçalo dos Reis Martins, a partner in PLMJ's Banking and Finance and Capital Markets practice. The other members of the team were Kathleen Hoffmann Barley and Francisca Resende Gomes.

 Gonçalo dos Reis Martins, PLMJ, a partner with the Firm's Banking and Finance and Capital Markets practice area: "We are extremely pleased to have been able to assist the Banco CTT group in yet another securitisation operation. This one was particularly complex as it was a market operation in which we had to meet legal and regulatory requirements, particularly the STS and capital release criteria".