Expertise - Debt Capital Markets and Securitisation

Our securitisation team is the market leading team in Scotland, dealing with the full range of participants, asset classes and deal structures involving Scottish assets which are operative in the UK market. Having been instrumental in devising the initial structures used to securitise assets in Scotland over 25 years ago, we continue to work with clients to apply our extensive knowledge in this field to new structures and asset types and are regularly involved in similar structured transactions, such as covered bond and national government sponsored bank liquidity programmes.  


     Meet our Securitisation team

 

 

 

 

 

 

 

    Read our 2015/16 Banking Deals Review to find out more about our work

 

 

  

Key People

Experience

The Co-operative Bank
Acted as Scots Counsel for The Co-operative Bank plc on the Scottish legal aspects of the residential mortgage backed securitisation arranged by Bank of America Merrill Lynch (and others) involving the issue of £1.65bn mortgage backed floating rate notes by Warwick Finance Residential Mortgages Number Two PLC.
Chartered Court Financial Services Limited
Acted for Charter Court Financial Services Limited on the Scottish legal aspects of the residential mortgage-backed securitisation involving the issue of £531m mortgage backed floating rate notes by Precise Mortgage Funding 2015-3R PLC.
Leeds Building Society
Acted as Scots Counsel for Leeds Building Society in their Albion No.3 residential mortgage loan securitisation which involved an issuance of Class A Asset Backed Floating Rate Notes and Class Z Variable Funding Notes.
GMAC UK PLC
Acting as Scottish deal counsel for GMAC UK PLC on the securitisations of auto loan receivables through E-Carat 5 PLC and E-Carat 6 PLC.
RBC Royal Bank
Acted as Scots Counsel for the Royal Bank of Canada in relation to the sale of $433m auto dealer loan-backed notes originating with Nextgear Capital UK Limited.
Leeds Building Society
Acted as Scots Counsel for Leeds Building Society in relation to the Scottish aspects of an update to its €7bn global covered bond programme.
Volkswagen Financial Services (UK) Limited
Acted for Volkswagen Financial Services (UK) Limited in relation to Scottish aspects of the updating of their Driver UK Master auto loan receivables note programme.
Morgan Stanley
Acted alongside Allen & Overy on the £6.1bn securitisation of residential UK mortgages by US investment firm, Cerberus Capital Management – the largest residential mortgage backed securitisation (RMBS) since the financial crisis hit in 2007.
Carval
Acted for Carval on the Scottish aspects of the acquisition of the Future Mortgages/Citi residential mortgage loan book and the subsequent securitisation of the portfolio involving the issue of £460m mortgage backed floating rate notes by Dukinfield PLC.

Clients