RHG Home Loans PTY Limited - Extendible Commercial Paper Programme Refinancing
We are acting for RHG Home Loans Pty Limited (formerly RAMS Home Loans Pty Limited) on the refinancing of its A$5.5 billion extendible commercial paper program.
Bell Potter Capital/ANZ - Margin Loan Securitisation Programme
We established a multi-option master trust structure with Australia and New Zealand Banking Limited giving Bell Potter the flexibility to securitise pools of margin loans funded by term notes, commercial paper, cash advance facility and/or subordinated debt. In doing so, the structure provided Bell Potter with the flexibility to move between different sources of capital markets funding on a series basis and also dealt with the unique funding features of margin loan receivables pools.
Aurora Securitisation Pty Limited - ReTRO Series - INSTO Deal of the Year.
The ReTRO Series, being a $225 million medium term note transaction, is Australia's first publicly rated medium term note transaction which securitises trade receivables. We worked with ANZ Investment Bank and the rating agencies in creating innovative cashflow waterfalls and liquidity support to overcome these issues.
National Australia Bank Limited - Auto Receivables Securitisation Programme
We are in the process of establishing a new series segregated master trust structure to enable National Australia Bank Limited to securitise own balance sheet auto receivables into Australia, Europe and the option to do so elsewhere. The structure will be the first time that National Australia Bank Limited has securitised this asset class and deals with the unique features of hire purchase, finance lease and equipment loan and other auto receivables.
Centro Properties Group - Multi-Borrower CMBS Programme
We established Australia's first multi-borrower master CMBS programme, which enabled Centro to diversify its funding base by accessing limited recourse CMBS securitisation funding in Australia and Europe while dealing with the unique challenges posed by property owning managed investment schemes.
DWS Rateplus
This was a retail synthetic investment structure, effectively securitising a complex derivative and offering it in the retail investor market with an overlay of a capital guarantee. It was novel in that this sort of risk/return and term profile had not been brought to the retail market before and the structuring required the complex interplay of the derivative, the capital guarantee and retail offering issues. We were retained by the capital guarantor to provide advice (taxation, legal and regulatory) and to draft and negotiate documentation relating to the transaction. Importantly this involved the creation of the international security/deposit structure which was an integral part of the transaction.
Athena Finance Structured Note Programme
It was the first programme established to do structured notes offerings (of various types, including both credit linked and equity linked notes) in Australia, New Zealand, Asia and Europe by an Australian bank. We developed a programme structure for its client which permitted it to document offerings of credit linked, equity linked and commodity linked notes in multiple jurisdictions around the world with a highly streamlined issuance process.
Westpac Guaranteed Portfolio Service
It was the first integrated structured product offered which combined CPPI dynamic portfolio management technology, with beneficial ownership of the portfolio by the investor with capital protection. We developed a product structure which achieved the structuring objectives of the client for a very complex product whilst still keeping the documentation short and simple.
International structured finance transactions
We have acted for major Australian banks and a number of New York and London based leading investment banks and financial institutions in relation to international structured finance transactions. These transactions have involved equity, debt and partnership option, purchase and repurchase arrangements for the provision of senior debt finance from or to Australian financial institutions. These transactions have constituted principal to principal transactions in essence for the purpose of providing attractively priced interbank debt or structured ownership arrangements, with a variety of underlying investments.
“Mallesons Stephen Jaques’ securitisation practice has long been regarded as a market leader…it is best known for consistently working on cutting-edge deals.”
IFLR 1000 2007