Squire Patton Boggs has advised Raiffeisen Bank International AG Vienna on a €25 million multi-jurisdictional factoring transaction for Lasselsberger, s.r.o. and LB Minerals, s.r.o.

A cross-border team from Squire Patton Boggs’ offices in Frankfurt, Bratislava, Prague, Paris and Warsaw advised on the Czech, French, German, Slovak and Polish law aspects of the sale and servicing arrangements for a portfolio of trade receivables originated by Lasselsberger, a leading European producer of raw materials, building materials and ceramic tiles.

“The new and innovative aspect of this transaction is to merge factoring and securitization techniques and to create a ‘securitization inspired factoring receivables purchase agreement’,” explains Frankfurt Financial Services Partner Jens Rinze, who led the Squire Patton Boggs team. “This is attractive to enterprises that are used to factoring as a refinancing tool but do not address the domestic factoring markets for their refinancing needs but the more international markets.”

The full team advising Raiffeisen Bank International included senior partner Val Papirnik (Prague) and partners Jana Pagacova (Bratislava), Peter Swiecicki (Warsaw), and Christopher Wilde (Paris), as well as of counsel Aymeric Malphettes (Paris), senior associates Marketa Lukesova and Hana Cekalova (Prague) and Jacek Wisniewski (Warsaw) and associates Dominika Kupisz and Malgorzata Olech (Warsaw).