PLMJ advises Banco CTT in partnership with Sonae Financial Services

PLMJ advised Banco CTT on its partnership with Sonae Financial Services in relation to the Universo Card.

Under this partnership, Banco CTT is responsible for financing the credit line associated with the Sonae group's loyalty credit card, the Universo Card, which currently has more than 850,000 customers. To ensure the transition of the credit risk exposure to Banco CTT, it was necessary to structure a credit securitisation operation to operationalise the partnership in the initial phase until Banco CTT assumes the position of credit grantor directly with the clients.

On PLMJ's side, the operation involved, in particular, the Banking and Finance and Capital Markets, TMT, European and Competition and Tax teams.

Banking and Finance and Capital Markets: Raquel Azevedo (partner); Gonçalo Reis Martins (partner), André Abrantes, Eduardo Crespo, Kathleen Hoffmann Barley, André Gama Loureiro and Francisca Resende Gomes from the Banking and Finance and Capital Markets team.

TMT: Pedro Lomba (partner) and Marta Salgado Areias

EU Law and Competition: Ricardo Oliveira (partner) and Martim Valente.

Tax: Isaque Ramos (partner) and Filipe Abreu (managing associate)