The last nine months have been busy ones for Shepherd and Wedderburn’s securitisation team. It has acted as Scottish counsel on over 25 securitisation programmes for arrangers, issuers and originators.
Hamish Patrick who, with Graham Burnside, has over the last 25 years been instrumental in developing industry standards and innovations in the types of structures used and assets securitised, said:
“Securitisation advisory work is somewhat of a niche area and arrangers need advisers who know the terrain well and who can act quickly. At Shepherd and Wedderburn, we have the largest and most experienced team dedicated to securitisation matters in Scotland. The fact that we have completed so many deals in a relatively short space of time is undoubtedly a reflection of the team having both the depth of expertise and scale to be able to complete innovative volume work in this arena.”
Examples of recent deals completed by the team include acting as Scottish counsel for Santander UK plc on their €35bn ANTS covered bond; acting for the Co-operative Bank plc on the issue of £1.4bn residential mortgage backed notes; and for Investec, Volkswagen and GMAC on their respective retail and wholesale auto receivables securitisation programmes, including GMAC’s two recent ‘E-Carat’ series of public bonds.
Four members of Shepherd and Wedderburn’s securitisation team - Fiona Buchanan, Andrew Kinnes, Rod MacLeod and Hamish Patrick - will be attending the Global ABS conference which takes place in Barcelona this week.