Winners of this award will operate at the cutting edge of the finance industry. We will consider one standout example of work taken from a wide range of disciplines, including bank lending, acquisition finance, structured finance, project finance and debt capital markets. The judges will give particular credence to the views of the wider finance community in deciding the winning team.
2017 WINNER: Ropes & Gray
Advising Virgin Media on two innovative financings, firstly raising £350m through the world’s first-ever issue of receivables financing notes through an orphan SPV, while the second deal was the first-ever handset securitisation seen in Europe.
CMS CAMERON MCKENNA
Advising Rock Rail on the Moorgate line and East Anglia rolling stock projects, helping create a new funding structure that has brought long-term institutional finance and investors into the industry, providing them with a new asset class with long-term fixed rate debt solutions.
HERBERT SMITH FREEHILLS
Acting for Tideway on its whole business securitisation and EIB loan to finance the construction of the Thames Tideway Tunnel. This involved the issue of eight series of index-linked deferred purchase bonds worth over £450m.
Representing Cerberus Capital Management on its purchase of £13bn in mortgage and unsecured personal loans from Northern Rock. The deal included the simultaneous onward sale of £5.3bn loans to whole-loan buyers, as well as the debt financing against the rest of the loan book.
Advising Brookland Partners as co-arranger with HSBC of the first UK securitisation of short-term property bridging loans. Paul Hastings helped identify a rarely-used RMBS product that the team tailored to apply to the highly-revolving nature of short-term bridging loans.
SIMMONS & SIMMONS
Providing advice to Funding Circle on its £129m securitisation backed by loans originated through its online lending platform, in what was a first for Europe’s securitisation market.