Hogan Lovells has advised joint arrangers and lead managers Citigroup Global Markets Limited and Deutsche Bank AG on the second auto loan securitisation by Blue Motor Finance, a leading UK fintech in the motor finance space. It follows the success of the first auto loan securitisation, Azure Finance No. 1, which was completed in August 2018
The pool balance was approximately £190m comprising 100% fully amortising hire purchase (HP) contracts. Blue retained 5% of the Class A Notes to the Class F Notes to comply with EU risk retention requirements. Blue also acquired the X2 Notes and the residual certificates.
Blue firm is backed by private equity firm Cabot Square Capital, a UK-based specialist financial services investor.
The Hogan Lovells team was led by structured finance partner Julian Craughan with support from senior associate Stephen Bate, associate Emma Burrell, partner Jennifer O’Connell and senior associate Duygu Onkuzu (derivatives), partner Philip Harle and associate Adela Komorowska (tax), partner Nicola Fulford and senior associate Paula Garcia (Privacy and Cyber Security) and counsel Julie Patient (Financial Services).
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