Practice Areas - Debt Capital Markets Law Firms and Lawyers
Deal Date: | 27-04-2015 | Practice Area: | Debt Capital Markets |
Deal Title: | RBS - UK Real Estate Backed Financing for German Bank | Industry: | Banks |
Description: |
Linklaters advised The Royal Bank of Scotland PLC on its involvement in an innovative asset-based finance structure set up together with the originating German bank, regarding an asset portfolio consisting of loans in GBP secured by UK real estate. The (replenishable) asset portfolio is sold and transferred to a Luxembourg special purpose vehicle . The assets are registered in the refinancing register of the originator in order to ensure that the assets would not be affected by an insolvency of the bank. The special purpose vehicle is refinanced through two tranches of bearer notes under German law (with an aggregate amount of approx. GBP 400 million), both of which were purchased by the originating bank and transferred under an English law refinancing arrangement. The transaction uses a back-up servicing and back-up account structure.
Linklaters advised with the lead responsibility of Kurt Dittrich, Burkhard Rinne and Jordis Harbeck (capital markets, Frankfurt).
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Financial Center: | London | Value: | 0.00-0.00 |
Advised Party: | Arranger | Law Firm | Linklaters |
Assets Jurisdiction | United Kingdom | Issuer Jurisdiction | United Kingdom |
Classification: |
Securitisation and Structured Finance CMBS |
Lawyer | Andy Vickery |