By Gunnar Westerlund, Dimitrios Himonas and Samu Palkonen
This article first appeared in Global Securitisation and Structured Finance 2003, published by Globe White Page in association with Deutsche Bank.
http://www.globalsecuritisation.com/
Over the recent years, the use of securitisation has become increasingly common in Finland. Despite this the transaction volume has, however, remained low compared to many other European jurisdictions. Not surprisingly, the market has been dominated by trade receivables securitisations. Typically, the Finnish leg of a securitisation transaction is part of a multi-jurisdictional exercise with group companies domiciled in different jurisdictions participating as originators. In addition to trade receivables, lease receivables and credit card receivables have also been securitised. Until 2002 the landmark public transaction in Finland was, however, the so-called ‘Fennica ’securitisation of housing loans by the Finnish Housing F nd first
