Waselius advised LocalTapiola Finance (LähiTapiola Rahoitus Oy) again as the originator on the EUR 575 million public securitisation of a portfolio of Finnish consumer auto hire purchase contracts. The issued Class A and Class B Notes are listed on the Irish stock exchange. Class C notes are retained. The transaction is rated by Fitch and S&P and labelled as simple, transparent and standardized (STS). Closing date of the transaction was 20 February 2025.
LocalTapiola Finance Limited (LTF) a wholly-owned subsidiary of LocalTapiola Group, whose main shareholder is General Mutual Insurance Company, one of the leading insurance companies in Finland. In business since 2017, LTF mainly focuses on originating loans to private individuals for used-car financing and includes both amortising and balloon loans in its portfolio.