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
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