Allegro Pay’s Purchase of Receivables By Aion Bank

Clifford Chance advised Allegro Pay sp. z o.o. on the deal, Rymarz Zdort advised Aion Bank.

The agreement sets out the framework for cooperation between Allegro Pay (as the originator of consumer credit receivables on the Allegro platform) and Aion Bank SA (as the purchaser of receivables). The agreement contemplates a series of potential transactions for the sale of receivables based on an offer and acceptance mechanism. The agreement has been entered into for a two-year term, with a six-month limit of PLN 500 million, to be renewed every day on a rolling basis. Within the limit, Allegro Pay will be able to sell receivables based on pre-agreed price parameters. The actual volume of sold portfolios may be higher than the limit.

The Clifford Chance team advising on the transaction included: Grzegorz Namiotkiewicz (Picture – Partner), Jan Zdzienicki (Of Counsel), Anna Biala (Counsel), Krzysztof Hajdamowicz (Counsel) and Anna Górska (Senior Associate).

The Rymarz Zdort transaction team was headed by Leszek Tokarski, a partner in the tax department, who was assisted by senior associates Krzysztof Rembierz and Marek Sikorski.

Involved fees earner: Anna Bia?a – Clifford Chance; Krzysztof Hajdamowicz – Clifford Chance; Grzegorz Namiotkiewicz – Clifford Chance; Jan Zdzienicki – Clifford Chance; Krzysztof Rembierz – Rymarz Zdort; Marek Sikorski – Rymarz Zdort; Leszek Tokarski – Rymarz Zdort;

Law Firms: Clifford Chance; Rymarz Zdort;

Clients: Aion Bank; Allegro;

Author: Giulia Di Palma