Norton Rose Fulbright is 'technically brilliant in terms of pure securitisation', and has a strong track record in high-value, unusual or first-of-a-kind transactions. Its work spans covered bonds, trade receivables, SME lending and restructurings, as well as residential mortgage and CRE structured finance deals. Head of capital markets Peter Young and lead securitisation partner David Shearer lead a strong group of partners, among them the vastly experienced Christian Lambie, and Peter Noble, whose work for one major Canadian bank included more than $5bn in covered bond issuance. Shearer recently acted for a global investment bank as arranger and dealer in connection with a €10bn covered bond programme. Rae Parsons is also a key member of the practice, having assisted Shearer with two separate programme updates and maturity extensions for a European issuer's multibillion-euro covered bond. The team works closely with the firm's infrastructure finance group on renewable energy financings, which led to its involvement in one of the first solar securitisations in Europe.
Key clients
- New Wave Capital Limited (trading as Capital on Tap)
- Eurobank S.A.
- Barclays Capital
- Royal Bank of Canada
- The Bank of Nova Scotia
- 777 Partners
- NatWest
- Brookfield / Powen
Work highlights
- Advised Powen Group and Brookfield Renewable on the structuring and establishment of an up to €120m solar receivable borrowing-base financing structure funded by Barclays Europe. This was the first European solar securitisation of a portfolio combining receivables in both the residential and commercial and industrial sectors.
- Acted as English counsel to the sellers (China Harbour Engineering Company Ltd and Consorcio Panamá Cuarto Puente) on the sale and assignment of all their rights in and to certain eligible work progress certificates issued by the Ministerio de Obras Publicas de Panama to a UK special purpose public company, to compensate the sellers for the works in connection with the design and construction of the fourth bridge of the Panama canal.
- Advised Barclays in its capacity as arranger and dealer in connection with Piraeus Bank S.A’s €10bn covered bond programme, including issuances of several series of covered bonds under the programme, as well as on the maturity extensions for several series of the covered bonds.
Lawyers
Practice head
The lawyer(s) leading their teams.
Peter Young, David Shearer