Global law firm Clifford Chance has advised a subsidiary of leading international savings and investments business M&G on the sale and securitisation of a £1bn+ portfolio of Equity Release Mortgages (ERM).
The transaction represents the largest public ERM securitisation completed in the UK to date and the first ERM securitisation in which the junior tranche was publicly marketed rather than privately placed, marking a significant development in the evolution of the UK ERM market.
Maggie Zhao, Global Head of Clifford Chance’s Structured Finance practice, commented: “We are delighted to have advised our client on this landmark transaction. As the largest public UK ERM securitisation to date, it demonstrates the strength and continued development of the ERM market while highlighting continued investor interest in the asset class.”
The cross-practice team was led by partner Maggie Zhao, supported by Anna-Lena Marx and Gyasi Vialva-Husbands, with partner Chris Davies advising on tax aspects and partner Matt Lyons advising on US law matters.
Press contact: Chanelle Mutawe
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.From Legal Desire
Is your firm the one being cited, or the one being skipped?
We ran the test. On several everyday legal questions, software companies are answering and law firms are not. We help firms fix that, and we build the technology behind the practice.
Lawyers and firms: get featured on Legal Desire
Share your deals, lateral moves, firm news and insights with 1M+ monthly readers: founders, law firm partners, general counsel and practising lawyers across the US, UK, EU and GCC.
Get featuredSubmit a press releaseThe advising firms, the named deal team, the value and the parties, with every other announced deal by the same firms and lawyers. Open the deal record
