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Structured Finance

Our structured finance practice provides expertise in all aspects of structured finance transactions, including securitisations, structured products, cashflow financings, repackagings and asset-backed bonds.

Our clients include financial institutions, corporates, fund managers, investors, servicers, trustees and other market participants.

We regularly advise on transactions that are the first of their kind, frequently involving fund-based structures, which combines our capabilities in fund formation with our structured finance practice.

Our specialist expertise includes:

securitisations and other structured financings in the bank and bond markets, both secured and unsecured, covering all business sectors and across all major asset classes, including residential and commercial mortgages, consumer loans, trade receivables and whole businesses;
structured products including: RMBS, CMBS, CLOs, CDOs and other structured products, cashflow financings, liquidity funding structures and fund structures;
warehouse financing;
receivables and invoice financing, letters of credit and equipment and lease financing;
portfolio purchases and sales and related financings; and
restructurings, work-outs and refinancings.

Recent work

ARA Venn

ARA Venn, together with Saltaire Housing Limited and Saltaire Finance plc on the update of the bond programme for the Affordable Housing Guarantee Scheme, increasing the size of the programme from £3bn to £6bn.

Universities Superannuation Scheme Limited

Advising Universities Superannuation Scheme Limited, the sole corporate trustee of one of the UK’s largest pension funds, on the acquisition from Credit Suisse AG of a number of securitised middle-market fund financing facilities.

A specialist fund manager

Advising a specialist fund manager on its securitisation structure and the issuance of notes listed on the Irish Stock Exchange (ISE) and trading on the Global Exchange Market of the ISE.

A global asset management firm

Advising a global asset management firm in respect of hybrid leverage facilities / private CLOs for its latest direct lending fund and in relation to a direct lending managed account.

An insurer

Advising an insurer in respect of a securitisation of its lifetime mortgages portfolio.

Stanhope

Advising Stanhope and the purchaser on the acquisition of BBC’s Media Village, including consent requirements and the potential restructuring of the related CMBS structure.

London Bridge Holdings

Advising London Bridge Holdings on the sale of the More London complex, including the unwinding of its existing CMBS structure.

Goldman Sachs Private Capital

Advising Goldman Sachs Private Capital in relation to a £90m private securitisation, backed by bridging loans originated by Together Financial Services, trading as Together.

Leading alternatives investment manager

Acting for a leading alternatives investment manager and the lender in relation to a warehouse facility for a leading specialist consumer finance firm backed by second charge mortgage loans.

Leading alternatives investment manager

Acting for a leading alternatives investment manager and the lender in relation to a receivables funding facility and invoicing platform for a global vehicle manufacturer backed by service plans.

Various investors

Acting for various investors in relation to synthetic securitisation and regulatory capital relief transactions.

One of Europe's largest purchasers and servicers

Acting for one of Europe's largest purchasers and servicers of performing, semi-performing and non-performing loans as servicer in relation to a warehouse facility backed by unsecured and guarantor personal loans.

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