EBRD advances securitisation in Poland with VEHIS

• EBRD invests PLN 520 million in notes backed by performing auto lease portfolio of automotive platform VEHIS.
• True-sale securitisation backed by EBRD and international and local private investors unlocks new leasing financing
• Proceeds to support new leases, green vehicle uptake and access to finance for small businesses

The European Bank for Reconstruction and Development (EBRD) is supporting the innovation of Poland’s capital markets and expanding access to leasing finance by taking part in an asset-backed securitisation with VEHIS, a vehicle leasing platform.

The Bank has invested PLN 520 million (€122 million equivalent) in senior notes backed by a portfolio of performing auto leases originated by VEHIS. The transaction will help to scale up VEHIS’s funding model, as well as deepen and diversify Poland’s capital market through the public issuance.

The proceeds of the securitisation will provide VEHIS with fresh capacity to finance new auto leases to Polish small and medium-sized enterprises (SMEs), helping businesses access medium-term financing for vehicles essential to their operations. This will support SME growth, contribute to regional development and economic inclusion across the country, and advance Poland’s green energy transition.

At least 15 per cent of the Bank’s investment will support new electric vehicle leases. In addition, at least 35 per cent will be directed to new leases to women-led SMEs and at least 25 per cent to young entrepreneurs, improving financial inclusion in a market where access to medium-term financing remains a key constraint for many SMEs in Poland.

Jan Bujak, Board member and Chief Financial Officer of VEHIS, said: "Our cooperation with the EBRD has significantly contributed to the success of this second public securitisation transaction conducted by VEHIS. We are proud of the trust placed in us by such a reputable institution. Thanks to this public securitization, we will be able to continue actively financing SMEs, including supporting women-led businesses and young entrepreneurs, as well as financing low-emission vehicles".

Andreea Moraru, EBRD Managing Director for Central Europe and Baltic States said: “We are pleased to support VEHIS’s issuance of an innovative instrument that strengthens Poland’s capital market and expands financing opportunities for SMEs. By transforming auto leases into investable securities, this transaction advances the use of market-based financing solutions for attracting institutional capital to Polish companies and channelling it to the real economy.”

VEHIS is a Polish automotive platform specialising in passenger cars and light commercial vehicles for SMEs, microenterprises and retail clients. VEHIS provides full support throughout the period of vehicle use, including a special insurance package, GPS monitoring and service support for the car, as well as handling traffic damage claims. It serves more than 23,000 customers across Poland. VEHIS’s strategic investor is Enterprise Investors, one of the largest and longest‑established private equity managers in CEE.

The EBRD is a leading institutional investor in Poland, having invested more than EUR 16 billion in the country, the overwhelming majority of which has gone into the private sector.