PLMJ advises WiZink

PLMJ advised Wizink, a digital bank specialising in credit solutions, on a new securitisation of a portfolio of credit card receivables worth approximately €210 million.

The "Vasco Finance no. 1" securitisation bond issue was approved by the CMVM and is a fundamental step in the further consolidation of WiZink's strategy for the Portuguese market.

The operation was led by Gonçalo dos Reis Martins, partner in the Banking & Finance and Capital Markets practices, and the team included lawyers André da Gama Loureiro, João Terrinha and Tiago Jesus Bento.

The bonds were rated by Fitch and DBRS and admitted to trading on Euronext Lisbon.

This is the first securitisation of this asset to be placed on the market in Portugal that meets the capital release and STS criteria.