PLMJ advises WiZink on €510m securitisation operation

PLMJ has advised WiZink Bank and StormHarbour on the first operation in Portugal to securitise a credit card debt portfolio

According to the firm, the securitisation bond issue called “Victoria Finance no. 1,” collateralised by the revenue from the securitisation of the credit card portfolio, unprecedented in Portugal, was approved by the capital market regulator (CMVM) and was instrumental in consolidating WiZink’s strategy for the Portuguese market. The operation amounted to €510 million.

Securitisation obligations were rated by Fitch and DBRS agencies and were admitted to trading on Euronext Lisbon.

PLMJ team was coordinated by Banking, Finance, and Capital Markets partner Gonçalo Reis Martins (pictured), and involved Banking and Finance senior associate Alexandre Norinho de Oliveira, associate Kathleen Hoffman Barley, and trainee Pedro Roque Coelho.