Founded in Belgium, LIZY has rapidly established itself as a leading car leasing platform, offering businesses and individuals a flexible alternative to traditional vehicle ownership and leasing. Through its digital-first model, customers can subscribe to high-quality pre-owned vehicles with an all-inclusive monthly fee and the flexibility to adapt their mobility needs over time. By extending the lifecycle of vehicles and making mobility simpler and more accessible, LIZY has built a distinctive position within the European mobility market.
To support the next phase of its growth, LIZY has implemented a receivables securitisation programme designed to provide long-term and scalable funding for its subscription portfolio. The securitisation structure enables LIZY to efficiently finance the receivables generated by its growing customer base and creates a robust platform capable of supporting further expansion.
Alongside the securitisation, the transaction also involved a refinancing and restructuring of LIZY's existing senior debt arrangements. The refinancing was carefully coordinated with the launch of the securitisation platform to ensure a seamless transition to the group's new funding structure.
The receivables securitisation platform was structured to finance receivables generated by both LIZY's Belgian and French vehicle fleets, creating a cross-border funding platform spanning both jurisdictions. Loyens & Loeff advised on the Belgian law aspects of both the securitisation and debt financing workstreams, while Ashurst acted as French securitisation counsel.
The transaction required a multidisciplinary team of specialists across finance, securitisation, regulatory, tax, corporate, commercial and data protection matters, bringing together expertise in debt financing, regulatory compliance, direct and indirect tax, VAT, corporate structuring and data protection.
