Debt Capital Markets and Securitisation

Ours is Scotland's market-leading securitisation team, with extensive knowledge rooted in our solicitors having been instrumental in devising the initial structures used to securitise assets in Scotland over 30 years ago.

Working closely with clients and other law firms, we undertake the Scottish aspects of all types of securitisation and structured finance transactions, ensuring the sale and security structures work from a Scottish perspective.

We act on both public and private issuances as well as private warehouse funding covering the full range of asset classes, including:

  • residential mortgages (RMBS);
  • commercial mortgages (CMBS);
  • other receivables (including auto loans, equipment loans, credit cards, unsecured loans point of sale and mobile phone receivables); and
  • covered bond, master trust and national government bank liquidity programmes.

Our remit on these transactions covers the provision of Scots law documentation, review of prospectus and other listing documentation, opinion work and carrying out legal due diligence on the underlying standard documentation and assets.

In addition to advising a number of established participants on conventional arrangements, we are often asked to advise on new structures, asset types and other market innovations, including, in recent years, assisting with putting in place securitisation and private warehouse structures for a range of technology-driven lenders and challenger banks in their inaugural deals.

Our clients include lenders, sponsors and investment banks. We support them in their roles of originator, lead manager or arranger, and we have long-established working relationships with the major London-based and international law firms working in this area.

For a sample of the recent transactions in which we have been involved, please see our Securitisation Little Black Book

Banking and Finance Deals Review 2022/23

 Read about our work in the sector