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Latham Advises Kongsberg Automotive in €60 Million Securitization Facility

October 7, 2020
Cross-border team represents Norwegian auto parts supplier in establishing trade receivables securitization facility.

Latham & Watkins advised Norwegian auto parts supplier Kongsberg Automotive on its agreement with NORD/LB and Finacity to provide Kongsberg with a €60 million trade receivables securitization facility which will mature in three years. 

The facility will finance trade receivables originated by the company's businesses in Canada, Poland, Slovakia, and the U.S., with an option for French receivables to be added in future. 

The Latham team was led by Munich capital markets partner Rüdiger Malaun, London finance partner Sanjev Warna-kula-suriya, New York finance partner Loren Finegold, and Paris finance partner Thomas Vogel, with Paris counsel Suzana Sava-Montanari and associates Nathan Weaver, Chris Armstrong, Ed Comber, and Jan Penselin. Advice on US true sale matters was provided by Los Angeles partner Peter Gilhuly and New York partner Adam Goldberg; advice on tax matters was provided by New York partner Elena Romanova and associate Lauren Bewley.