Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) has advised AUTO1 Group Operations SE on its first asset-backed securitisation (ABS) of consumer auto financing receivables generated by its Autohero subsidiaries. Citigroup provided the senior tranche of the €150 million financing. The securitisation portfolio comprises existing and future receivables in two European jurisdictions, Germany and Austria, with the possibility to extend the financing to further markets going forward. AUTO1 will use the proceeds of the facility to continue to build out its financing offering to customers of its online platform Autohero. The financing is correspondingly structured to allow for expansion of the commitments to keep pace with growth in the portfolio. The Freshfields team comprised Partner Robin Helmke, Principal Associate Jessica McBride and Associate Marlin Jürgens (all Finance, Frankfurt) and Partner Martin Schiessl and Counsel Sandra Auer (both Tax, Frankfurt). Support was provided by Partner Thijs Flokstra and Associates Hakan Gargili and Leonie Persant Snoep (all Finance, Amsterdam), as well as Partner Eelco van der Stok and Associate Daan van Schaik (both Tax, Amsterdam) and Partner Friedrich Jergitsch, Principal Associate Christian Jöllinger and Associate Maximilian Hohenauer (all Finance, Vienna).