Cuatrecasas advises Luxembourg fund on private securitization “Instant Factoring 2025-I, Securitization Fund”
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SubscribeCuatrecasas has advised a Luxembourg fund specializing in working capital, in its capacity as senior creditor, on the private securitization transaction called “Instant Factoring 2025-I, Securitization Fund,” that has been incorporated in Spain.
The fund has a Spanish and a Romanian assignor, both engaged in invoice discounting, that have assigned credit rights arising from commercial transactions for the provision of services or delivery of goods carried out by their clients to third-party debtors. The credits originated in Spain and Romania are governed by their respective national laws and are denominated in Euros and Romanian lei (RON), giving the transaction a truly innovative crossborder structure.
Two loans have been arranged on the fund’s liabilities side: a senior tranche, granted by the fund, and a subordinated tranche, granted by the assignors themselves. The transaction is structured as a securitization for the purposes of Regulation (EU) 2017/2402.
The Cuatrecasas advisory team was made up of lawyers Miguel Cruz and Ignacio Rebollo (Corporate Finance).
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