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​​Automobile securitisations



  • Advised a German financial institution in connection with the securitisation of approximately Euro 500 million of automobile loans and leases originated by the finance arm of a large German sports automobile manufacturer, on a rolling basis, through an asset-backed commercial paper conduit. 


  • Advised a large German luxury auto manufacturer in connection with the securitisation of approximately Euro 350 million of U.S. auto loans and leases.


  • Advised a German bank in connection with structuring and documenting the purchase of approximately U.S. $533 million portfolio of interests in U.S. auto receivables.


  • Advised a German bank in connection with structuring and documenting the purchase of approximately £236 million portfolio of interests in UK auto receivables by a multi-seller asset-backed commercial paper conduit.


  • Advised a German bank in connection with structuring and documenting the purchase of approximately Euro 400 million portfolio of interests in Japanese auto receivables.



Commercial mortgage securitisations



  • Advised a large UK bank in connection with the restructuring of approximately £1 billion of Spanish commercial mortgages.


  • Acted on behalf of the issuer, the originator and the borrowers in the offering of approximately £440 million commercial mortgage backed floating rate notes backed by UK Commercial Mortgages.


  • Advised an Italian bank in connection with the securitisation of approximately Euro 400 million of Dutch, UK, French and German commercial mortgages.


  • Acted on behalf of a UK financial institution in the securitisation of up to £1billion of own originated commercial mortgages, on a rolling basis, through an asset-backed bond programme.  As Arrangers counsel we drafted all of the documentation. 


  • Advised a large Australian corporate in connection with its £200 million junior investment in a securitisation of UK commercial mortgages. The transaction was unique due to certain Australian regulatory reasons.



Residential mortgage securitisations

  • Advised an Italian bank in connection with the securitisation of approximately £400 million of UK residential mortgages.


  • Advised a Belgian bank in connection with a synthetic securitisation of approximately Euro 1.6 billion portfolio of Dutch residential mortgages.


  • Acted on behalf of a UK financial institution in the securitisation of up to £1billion of own originated residential mortgages, on a rolling basis, through an asset-backed bond programme.  As Arrangers counsel we drafted all of the documentation.


  • Advised a Belgian bank in connection with structuring and documenting the purchase of approximately $510 million portfolio of interests in U.S. residential mortgages by a multi-seller asset-backed commercial paper conduit.



Loan receivables

 

  • Acted on behalf of a UK financial institution in connection with the securitisation of up to £353 million of own originated consumer loans, on a rolling basis, through an asset-backed commercial paper conduit.  As Arrangers counsel we drafted all of the documentation related to the note programme and the on-going sales. 


  • Advised a Belgian bank in connection with the securitisation of approximately Euro 200 million of Irish consumer loan receivables.


  • Advised the originator in connection with the securitisation of approximately Euro 300 million worth of Russian consumer loan receivables.


  • Advised a German bank in connection with the securitisation of approximately Euro 250 million of Russian consumer loan receivables.


 
Lease securitisations (non-auto)
 


  • Advised a German bank in connection with the securitisation of approximately Euro 118 million of lease receivables originated by two Italian financial institutions, certain of the securities of which are listed on the Luxembourg Stock Exchange.


  • Advised an Italian Bank in connection with the securitisation of approximately Euro 300 million of Italian equipment receivables.


  • Advised a French bank in connection with the synthetic securitization of approximately Euro 800 million Italian leases and loans. The transaction was unique in that it was one of the first Italian synthetic securitizations of leases through a multi-seller ABCP conduit structure merging complex structured product derivative techniques with ABCP conduit technology.


 
Credit card receivables

 

  • Advised a Belgian bank in connection with structuring and documenting the purchase of approximately U.S $500 million portfolio of revolving U.S. credit card receivables.


  • Advised a Belgian bank in connection with the purchase of U.S. $300 million of credit card receivables.


  • Advised a German bank in connection with structuring and documenting the purchase of Euro 130 million of interests in Czech Republic personal loans and credit card receivables.


 
Aircraft leases

 

  • Advised a major European airline in the approximately Euro 700 million securitisation of 35 Boeing and Airbus aircraft. The notes were listed on the London Stock Exchange.


  • Advised an Italian bank in connection with the securitisation of approximately Euro 300 million of German ground leases.


  • Advised a Belgian bank in connection with the securitisation of approximately U.S. $300 million of U.S. slip-way airport leases;


 
Esoteric asset class securitisations

 

  • Advised multiple arranging banks in the restructuring of Eurotunnel debt and the related approximately £5 billion securitisation.


  • Advised a German bank on restructured approximately Euro 30 billion of the bank’s securitisation transactions for various originators funded through ABCP involving a range of asset classes including German auto loans and leases, German trade receivables, trade receivables from Italy, Croatia, Cyprus, Greece and Slovenia, U.S. trade receivables, U.S. equipment leases, U.S. agricultural loans, U.S. cellular leases, U.S. construction loans, U.S. trade receivables and U.S. CMBS.


  • Advised a Belgian bank in connection with the Euro 700 million restructuring of part of the syndicated facilities provided to a world-leading beverage concern for the purposes of facilitating a U.S $105 billion merger. Prior to the merger we had been retained by the bank with respect to seven jurisdiction securitisations (through a term and ABCP structure) of the receivables of the beverage company.


  • Advised a Middle East based bank in connection with the issuance of a Sukuk financing based on commercial assets.  The notes were listed on the London Stock Exchange.


  • Set-up over 20 bank-sponsored U.S. and European multi-seller asset backed commercial paper conduits with an issuance value over U.S. $40 billion.


  • Advised a large investment management company in connection with setting up a Euro 600 million structured investment vehicle.  The vehicle sold ABCP, medium term notes and capital notes.  The medium term notes were listed on the Luxembourg Stock Exchange


  • Advised a UK bank in connection with a unique combination of synthetic and cash securitisation of a U.S. $6 billion portfolio of small and medium sized enterprises. The transaction had direct investors in the credit default swap and investors in credit linked notes whose return is linked to the exposure under certain rated, tiered credit default swaps. The transaction is unique for many reasons. Firstly, the portfolio includes almost a million SME loans. Secondly, it is unique as it is partially cash and partially synthetic. Thirdly, it is unique as it has multi-tiered rating agency rated credit default swaps. The cash component was funded through a Eurobond issuance.


  • Advised the originator in connection with the offering of £250,000,000 structured medium term notes in order to fund student housing in numerous universities.  The transaction was unique in that it was a refinancing using securitisation technology to fund multiple housing platforms ring fencing each such platform.   Our advisors worked on the asset side, the bond side as well as implemented a unique and complicated hedging strategy in order to stabilise cash flows.


  • Advised on a joint instruction from an international imaging company and its pension fund in connection with the securitisation of Euro 274 million of equipment leases in the UK, Italy, France, Germany, the Netherlands and Belgium.  The notes were issued on a private placement basis utilising key pension legislation as they were purchased as part of the corporate pension plan investment.


  • Advised a European sovereign on the sale of approximately Euro 100 million worth of asset-backed securities related to Lehman Brothers post-bankruptcy.


  • Advised a Benelux financial institution in connection with the securitisation of up to Euro 225 million hospital equipment leases in Portugal, on a rolling basis, through an asset-backed commercial paper conduit. 

 

Emerging markets securitisations

 

  • Advised a large Qatar based public company in connection with issuance of a Sukuk financing based on a diverse pool of automotive and commercial assets.  The notes were listed on the Irish Stock Exchange.


  • Advised a large public aircraft and rail manufacturer in connection with issuing Sukuks to fund the building of a monorail in Malaysia valued at over Euro 1 billion.


  • Advised a French bank in connection with the securitisation of approximately Euro 350 million of Russian automobile loans.


  • Advised a Dutch bank, on the securitisation of approximately Euro 150 million of Kazakhstan residential mortgages through a multi-seller asset-backed commercial paper conduit. The securitisation was Kazakhstan’s first ‘true sale’ securitisation of residential mortgages.


  • Advised a U.S. bank in connection with the securitisation of approximately U.S. $250 million of Russian residential mortgages.


  • Advised a U.S. private equity house in connection with the funding of a power plant in India.  The transaction was unique in that it used a securitisation structure to fund a private equity investment in a power plant.


  • Advised a French bank in connection with the securitisation of approximately Euro 200 million of Russian residential mortgages.


 

Securitisation 

Transaction snapshot

Transaction Snapshot

Global Fixed Income Capital Partners Ltd.