FKA advised mBank S.A. on sale of non-performing receivables portfolio to a securitization fund

01.2017

FKA Furtek Komosa Aleksandrowicz has advised mBank SA on the sale of a portfolio of non-performing receivables towards corporate clients (and related receivables owed to a government financial institution) of a face value of over PLN 125 million.

The buyer of this portfolio is a securitisation closed-end investment fund belonging to one of the leading groups in the debt management market.

FKA’s advice to the Bank included all stages of the process initiated in the third quarter of 2016, from the preparation of the transaction legal framework and timetable, correspondence to potential buyers, the receivable sale process letters and other transaction documentation, through assistance to the special sale committee of the Bank when reviewing the submitted bids in particular stages and selection of the buyer, to negotiation of the receivables sale agreement and the transaction finalisation in December 2016.

mBank was assisted by the FKA Financial Institutions and Restructuring team led by partner Leszek Rydzewski assisted by Bartlomiej Bronisz, senior associate, with a contribution also from Mariusz Aleksandrowicz, Tax partner.