Practice Areas - International Finance and Bank Credit Law Firms and Lawyers
| Deal Date: | 21-03-2014 | Practice Area: | International Finance and Bank Credit |
| Deal Title: | Venn Partners Acquisition of GE Artesia Bank Mortgage Portfolio | Industry: | Banks |
| Description: |
International law firm Freshfields Bruckhaus Deringer has advised The Royal Bank of Scotland PLC (RBS) as senior lender on an acquisition financing to an equity consortium led by Venn Partners LLP (Venn), a London based specialised credit investment boutique. Freshfields has also advised RBS, as arranger and manager, on a subsequent capital markets refinancing of the initial acquisition debt.
The financing has enabled the Venn consortium to purchase a portfolio of Dutch residential mortgage loans from GE Artesia Bank (GE).
The structure marks a major shift in the Dutch mortgage landscape. The Venn consortium is an alternative capital provider as a opposed to a financial institution and is the first of its kind to enter the Dutch mortgage market since the 2008 financial crisis. Market commentators expect this development to set a trend for other alternative capital providers to consider entering into European mortgage lending markets which are currently dominated by financial institutions.
The Freshfields team was led by finance partner Mandeep Lotay alongside partners James Grand and Eelco van der Stok and associates Wouter Jongen and Sabah Nawaz.
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| Financial Center: | Amsterdam | Value: | 0.00-0.00 |
| Advised Party: | Acquiror | Law Firm | Freshfields Bruckhaus Deringer |
| Assets | Netherlands | Acquiror | United Kingdom |
| Classification: |
Loan and Portfolio Sales Mortgage Portfolio Sales |
Lawyer | Mandeep Lotay |
