News | Structured Finance & Securitisation

SJ Berwin Advises EIF in Relation to €105,000,000 CFO

Monday 25th October 2004

SJ Berwin has advised the European Investment Fund in relation to the credit enhancement of the Class A-2 Notes and Class B-2 Notes issued by European Venture Partners II Leveraged Venture Leasing Company Limited. The notes were issued by European Venture Partners II and secured against the pool of venture leases and loans to be sourced throughout the EU and Israel during an initial 18 month ramp-up period. In addition, credit subordination for the notes will be provided in the form of redeemable preference shares and subordinated Class C Notes. The total size of the issuance will be €105,000,000. The deal represents a successful foray into the collateralised fund obligation market in relation to a traditionally illiquid asset class.

The issue of the notes was arranged by Deutsche Bank AG, London Branch.  Alessandro Tappi, head of Guarantees and Securitisation at the European Investment Fund, said "SJ Berwin has been a key partner to EIF on this transaction, providing highly valuable advice on the first pan-European securitisation sponsored by EIF. Through EVP II , EIF, by using its expertise in both structured finance and venture capital markets, is continuing to support the creation, growth and development of small and medium-sized enterprises in Europe, while at the same time introducing new asset classes to the European securitisation market."

The SJ Berwin structured finance team was led by partner Gillian Smith assisted by Colin Tan.  The structured finance group is headed up by partners Gillian Smith and Nick Terras and senior associates Colin Tan and Kevin McGuire, who recently joined the group. Kevin previously worked in the Capital Markets Execution team for Citigroup as a Vice President.  This transaction and the continued growth of the structured finance team represents SJ Berwin's commitment to developing its expertise in the structured finance and securitisation arena, in particular in relation to asset classes where there have been increasing demands from existing clients, not least from the firm's lively property finance, private equity and funds practices. 

For further information on EIF and the transaction, please see EIF's press release on
http://www.eif.org/news/press/press.asp?press=84


Notes:
  • SJ Berwin is a full-service international legal practice with more than 450 lawyers across its offices in London, Brussels, Frankfurt, Berlin, Munich, Madrid and Paris.
  • SJ Berwin was created and thrives as a leading-edge legal services business, focusing on the European and international market place. Our clients are sophisticated buyers of legal services, principally entrepreneurial companies and financial institutions, whom we advise on a comprehensive range of services including Corporate Finance, Commercial, Real Estate, Banking, Reconstruction & Insolvency, Financial Services, Litigation, Employment & Pensions, EU & Competition and Tax.
  • Our approach has resulted in the firm winning a number of recent awards including "Real Estate Team of the Year" at The Lawyer Awards 2004, "World's Leading Firm for Private Funds Expertise" in The International Who's Who of Business Lawyers 2003/4", Private Equity Law Firm of the Year: Firm and Fund Work" at the European Venture Capital Journal Awards 2003, "Best Law Firm (fund documentation)" at the PrivateEquity Online Awards 2003, "Mid-Market Law Firm of the Year" at the Acquisitions Monthly Awards 2003, "Western Europe - Private Equity Law Firm of the Year" by Chambers Global 2003 and Pro Bono Team of the Year at the Young Solicitors' Pro Bono Awards 2003.
  • SJ Berwin's Banking Department advises a wide range of banks, other financial institutions, corporates and venture capitalists on all aspects of banking and finance and is on a number of formally constituted bank panels, including Barclays Bank, HBoS, Nomura, Dresdner Kleinwort Benson and Standard Chartered Bank. We are also the external advisers to the Association for Payment Clearing Services and the Cheque and Credit Clearing Company.
 
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