Advising clients across the globe, our securitisation and structured finance specialists are at the forefront of many first-of-a-kind transactions, developing innovative new financings that reflect the consistently changing markets in which our clients work.
We advise arrangers and lead managers, corporate issuers, originators, credit enhancers, trustees, rating agencies and other market participants on a range of products and asset classes.
We have extensive experience in both whole business and sale structures, including a wide range of securitised assets, such as commercial and residential mortgages, trade/inventory receivables, CDOs/CLOs, insurance receivables, property rentals, NIM, auto and fleet receivables, hire purchase and conditional sale contracts, aircraft and mining equipment leases and PPPs.
Our securitisation team is supported by a derivatives team who provide expert advice on all aspects of derivatives on both the buy and sell sides, including specialist product types and the negotiation of a suite of master trading agreements. We act on contentious and non-contentious matters, working closely with our disputes practice to add value to your business through our integrated knowledge of derivatives, regulatory and tax issues.
We also offer a full range of related services to financial investor clients, including private equity, sovereign wealth funds, investment banks and hedge funds.
Bazalgette Finance (Tideway)
Advising on the £10 billion multicurrency whole business securitisation of the Thames Tideway tunnel, including the issuance of 15 series of index-linked (CPI-, RPI- and limited index linked) and fixed rate bonds issued under the bond platform, with maturities from 2040 to 2054 as well as green bonds. The bond programme is the first application of a deferred bond purchase structure to a major infrastructure project in the sterling market
KKR, Värde Partners and Deutsche Bank
Advising on the asset-backed financing of their successful bid to acquire GE Capital’s Australian and New Zealand consumer lending business
Advising on the ground-breaking securitisation of its landing and take-off slot portfolio at London Heathrow airport
Advising the lenders participating in the asset-backed acquisition facilities for the £13 billion purchase by Cerberus of the NRAM/Granite portfolio
Westpac Banking Corporation
Advising in relation to the establishment of RMBS and ABS warehouse facilities for Westpac’s clients including Pepper Australia, RESIMAC, Australia Defence Credit Union, BMW, IMB, Ingram Micro and Wide Bay Australia
JP Morgan and Lloyds
Advising as joint lead managers and arrangers for West Bromwich Building Society’s Kenrick RMBS transactions