Clifford Chance is one of the world's pre-eminent law firms, with significant depth and range of resources across five continents. As a single, fully integrated, global partnership, we pride ourselves on our approachable, collegial and team-based way of working.

Clifford Chance's International Structured Debt Group is recognised as the leading global securitisation and structured debt practice with teams in the United Kingdom, Europe, Asia and the United States. We provide expertise, experience, quality and depth of resource in all key securitisation and structured debt product areas including asset backed commercial paper, conduits and conduits trades, real estate securitisation both residential and commercial whole business/corporate securitisation including information and utilization, financial institutions including consumer credit and auto loans structured products including CDOs, and funds based structures.

Our specialist team is led by a core group of partners with a strong real estate background who over many years have advised all classes of stakeholders on some of the most complex and high profile CMBS transactions. Our commitment to our clients is to use our depth and breadth of experience and market recognised expertise to provide an understanding of complex issues, innovative and practical solutions and sophisticated transaction management across the full spectrum of CMBS related products.

Natixis is the international corporate and investment banking, asset management, insurance and financial services arm of Groupe BPCE, the 2nd-largest banking group in France through its two retail banking networks, Banque Populaire and Caisse d’Epargne.
With more than 18,000 employees, Natixis has a number of areas of expertise that are organized into four main business lines: Asset & Wealth Management, Corporate & Investment Banking, Insurance and Specialized Financial Services.
A global player, Natixis has its own client base of companies, financial institutions and institutional investors as well as the client base of individuals, professionals and small and medium-size businesses of Groupe BPCE’s banking networks.
Listed on the Paris stock exchange, it has a solid financial base with a CET1 capital under Basel 3(1) of €12 billion, a Basel 3 CET1 Ratio (1) of 10.8 % and quality long-term ratings (Standard & Poor’s: A+ / Moody’s: A1 / Fitch Ratings: A+).
(1)Based on CRR-CRD4 rules as reported on June 26, 2013, including the Danish compromise - without phase-in .
Figures as at December 31, 2018

Societe Generale is one of the leading European financial services groups. Based on a diversified and integrated banking model, the Group combines financial strength and proven expertise in innovation with a strategy of sustainable growth, aiming to be the trusted partner for its clients, committed to the positive transformations of society and the economy. Active in the real economy for over 150 years, with a solid position in Europe and connected to the rest of the world, Societe Generale has over 147,000 members of staff in 67 countries and supports on a daily basis 31 million individual clients, businesses and institutional investors around the world by offering a wide range of advisory services and tailored financial solutions. The Group is built on three complementary core businesses:
 
French Retail Banking, which encompasses the Societe Generale, Crédit du Nord and Boursorama brands. Each offers a full range of financial services with omnichannel products at the cutting edge of digital innovation;
International Retail Banking, Insurance and Financial Services to Corporates, with networks in Africa, Russia, Central and Eastern Europe and specialised businesses that are leaders in their markets;
Global Banking and Investor Solutions, which offers recognised expertise, key international locations and integrated solutions.

Fitch Ratings is a leading provider of credit ratings, commentary, and research. Dedicated to providing value beyond the rating through independent and prospective credit opinions, Fitch Ratings offers global perspectives shaped by strong local market experience and credit market expertise. The additional context, perspective, and insights we provide help investors to make important credit judgments with confidence.
Fitch Group is a global leader in financial information services with operations in more than 30 countries. Fitch Group is comprised of: Fitch Ratings, a global leader in credit ratings and research; Fitch Solutions, a leading provider of credit market data, analytical tools and risk services; and Fitch Learning, a preeminent training and professional development firm. With dual headquarters in London and New York, Fitch Group is owned by Hearst.
For additional information, please visit fitchratings.com.

S&P Global Ratings, a part of S&P Global Inc. (NYSE: SPGI), is the world's leading provider of credit ratings. We have more than 1 million credit ratings outstanding on government, corporate, financial sector and structured finance entities and securities. With approximately 1,400 credit analysts, a presence in 26 countries, and more than 150 years' experience of assessing credit risk, we offer a unique combination of global coverage and local insight. Our research and opinions about relative credit risk provide market participants with information to help support the growth of transparent, liquid debt markets worldwide. . Learn more at spglobal.com/ratings.
 

Barclays is a transatlantic consumer and wholesale bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.

With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs 82,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.home.barclays

DBRS Morningstar is a full-service global credit ratings business with approximately 700 employees around the world. We’re a market leader in Canada, and in multiple asset classes across the U.S. and Europe.

We rate more than 3,000 issuers and nearly 60,000 securities worldwide, providing independent credit ratings for financial institutions, corporate and sovereign entities, and structured finance products and instruments. Market innovators choose to work with us because of our agility, transparency, and tech-forward approach.

DBRS Morningstar is empowering investor success as the go-to source for independent credit ratings. And we are bringing transparency, responsiveness, and leading-edge technology to the industry.

That’s why DBRS Morningstar is the next generation of credit ratings.

Learn more at dbrsmorningstar.com.

Kroll Bond Rating Agency, LLC and its affiliates (KBRA) is a global full-service rating agency with a mission to set a standard of excellence and integrity. Established in 2010, KBRA remains dedicated to the restoration of trust in credit ratings by creating new standards for assessing risk and by offering timely and transparent ratings. KBRA provides market participants with an alternative solution by delivering in-depth research across various sectors within the United States and European markets. We strive to provide the investment community with the products and tools needed to make informed investment decisions.
   

Latham & Watkins delivers innovative solutions to complex legal and business challenges around the world. From a global platform, our lawyers advise clients on market-shaping transactions, high-stakes litigation and trials, and sophisticated regulatory matters. Latham is one of the world’s largest providers of pro bono services, steadfastly supports initiatives designed to advance diversity within the firm and the legal profession, and is committed to exploring and promoting environmental sustainability.

Our mission is to provide trusted insights and standards that help decision-makers act with confidence.

We are a global integrated risk assessment firm that empowers organizations to make better decisions. Our data, analytical solutions and insights help decision-makers identify opportunities and manage the risks of doing business with others. We believe that greater transparency, more informed decisions, and fair access to information open the door to shared progress. With over 11,000 employees in more than 40 countries, Moody’s combines global presence with local expertise and over a century of experience in financial markets.

UniCredit is a simple successful pan-European Commercial Bank, with a fully plugged in Corporate & Investment Banking (CIB), delivering a unique Western, Central and Eastern European network to its extensive and growing client franchise. At home throughout Europe with 13 core markets, we are the partner of choice for our clients’ increasingly sophisticated demands in Corporate Banking and Transaction Services, Structured Finance, Capital Markets and Investment solutions which we provide to our corporate and institutional client networks in addition to the Group’s retail, private banking and wealth management clients.We offer local expertise as well as international reach and accompany our clients globally in 16 countries worldwide.

With offices in all of the world's major financial centers, our securitisation and structured finance lawyers have a deep understanding of the laws and business issues related to capital markets and local financial systems.

From structuring to documenting and closing, we tailor solutions to the financial, regulatory and tax requirements of each transaction across industries and jurisdictions. We advise corporates, commercial banks, investment banks, institutional investors, non-bank platforms and rating agencies on complex public and private term financing deals and single and multi-sector trade financing transactions, conduit securitisations and supply chain financings across asset classes.
 

Linklaters advises on every type of structured bond transaction, including asset-backed commercial paper, auto-ABS, CDOs/CBOs, RMBS, covered bonds, CMBS, credit card receivables, hybrid project finance, loan portfolio sales and related financings, project bonds, receivables financings, WBS and utility financings. Linklaters has cross-border and multi-jurisdictional experience across all major securitisation classes and delivers a totally integrated structured finance practice across the UK, continental Europe, central and eastern Europe, the Middle East, Asia and the Americas.

Linklaters is a leading global law firm, supporting clients in achieving their strategies wherever they do business. We work as one united team, with a common focus on innovation, efficiency and agility – putting our clients at the heart of all we do.

Sidley has been at the forefront of the European securitisation market since the early 1990’s and since that time has been involved in a number of ground breaking securitisation products and structures in numerous European jurisdictions, including establishing domestic and pan-European CMBS platforms, asset-backed commercial paper and securities conduits, RMBS related products, whole business securitisations and covered bonds as well as a deep experience in advising arrangers, managers and investors on CLO and CDO transactions. Our securitisation lawyers in Europe and the U.S. have a deep and well established practice in all areas of securitisation, structured finance and derivatives, with market-leading experience of the full gamut of asset classes and structures. Our lawyers have particular experience in securitisations and secured financings involving corporate (mid-market and syndicated) loans, rental fleets, consumer assets such as personal loans, auto-loans and leases and credit cards, trade and other more specialised receivables and more recently in the rapidly growing market for financings of online marketplace and peer-to-peer lending and other fintech including structures utilising blockchain, distributed ledger technology and cryptocurrencies. We are also at the cutting edge of innovative asset classes such as solar energy, insurance products and IP securitisations.

As a result of our ongoing growth and investment within ARC Ratings we find ourselves in an increasingly strong position to meet the demands and challenges that 2020 delivered. Our expansion through our SF, Corporate, FI, Surveillance and BD teams has enabled us to deliver our highest ever level of ratings and the list of leading international banks and investors which accept ARC Ratings as an eligible CRA continues to grow.
 
ARC Ratings results from the acquisition of CPR (a European agency with 26 years history) by a partnership of 6 leading rating agencies operating in Asia, South America, Sub-Saharan Africa and Europe. These partners have created an international rating agency that aggregates the knowledge and experience of all. ARC Ratings’ global exposure allows us to leverage experience across sectors and across jurisdictions, taking account of legal and regulatory nuances and the partnership has substantial cumulative resources, with over 10,000 rating clients and 600 ratings staff.
 
ARC Ratings has been accorded the same ECAI mapping as the larger rating agencies and our ratings can thus be used for capital relief purposes under the standardised and rating based approach, as well as under Solvency II. Our expansion into the European ratings market is based on the twin strategy of offering superior service levels alongside a competitive fee structure.

BNY Mellon is a leading global brand, carrying high rankings across all major rating agencies and recognized as one of the world’s largest custodians and one of the leading service providers of independent agency services. As the largest global provider of independent trustee services, our clients have access to our scale and stability and decades of market-leading experience within the mortgage backed securities (MBS) market. Our expertise spans across multiple credit cycles and covers both the private and agency sector, supporting prominent government entities like Freddie Mac/Fannie Mae and Ginnie Mae.

We offer clients a full suite of issuer, investor, tax and rating agency reporting, right down to loan level details with the ability to support all phases of the mortgage securitization lifecycle. Because we don’t serve as an originator or arranger on the deals we service, we avoid conflicts of interest with our clients and transaction parties so they can take comfort that we always put the deal first.
 
 

IQ-EQ is a leading investor services group that brings together a rare combination of global technical expertise and deep understanding of client needs. We have the ‘know how’ and the ‘know you’ to provide a comprehensive range of compliance, administration, asset and advisory services to investment funds, multinational companies, family offices and private clients operating worldwide.  Our group employs 3,400+ people in 23 jurisdictions across four continents and has assets under administration (AUA) exceeding US$500 billion.

IQ-EQ's global structured finance and securitisation team provide transaction and accounting support, from the structuring phase straight through to the closing, for a range of structured finance transactions and associated corporate structures and underlying assets. Our  team has experience of dealing with asset backed transactions (ABS/CMBS/RMBS), collateralised transactions (CDO,CLO, CBO) including synthetic transactions, corporate bond issuance together with project/infrastructure finance transactions and trade receivable deals.

Rockstead originated in 2008 with the establishment of our due dilgence proposition (Rockstead Review) supporting buyers, sellers and holders of assets in the financial services sector, particularly around mortgages and loans.

Our experience in that sector is unrivalled and we have established a reputation for independent, transparent and experienced reporting, based on our 'tell it as we see it' philosophy.

We operate in the UK, and across Europe and our services have expanded into other areas over the years including the provision of third-party supplier oversight, compliance and risk reviews, staffing services and process improvement expertise to support businesses throughout the region.

In Ireland we have a subsidiary business and permanent offices in Dublin that supports the Irish business community. We have local representation in Iberia too and have carried out numerous projects across the EU.

We are recognised as the market leader and are quick to respond to our client's needs.

Across Europe and now with a presence in Australia, our sister company is Yabber Global. Yabber provides AI analytics services, backed up by the strongest customer contact centre expertise to be found, to support clients in their quest to become more efficient and provide better customer outcomes.

European DataWarehouse (EDW) is a Securitisation Repository designated by the European Securities and Markets Authority.

The company was established in 2012 as the Eurosystem’s first repository to facilitate the collection, validation, and download of standardised loan-level data for Asset-Backed Securities and private whole loan portfolios.

EDW stores loan-level data and corresponding documentation for investors and other market participants. Operating as a market infrastructure, EDW aims to increase transparency and restore confidence in the ABS market.

Through EDW's data, users can analyse underlying portfolios in a more efficient way and compare portfolios on a systematic basis.
 

Intex Solutions, Inc. is a well-known provider of structured fixed income deal models and analytical solutions. Intex models and maintains an industry-leading database of over 40,000 ABS, CDO, CMBS and CMO deals. Deals are individually modeled based on the amortization and loss waterfall rules in the original deal documents. Deals are then updated in a timely manner each month using available trustee and servicer information. Hundreds of leading investment banks, broker dealers, issuers and investors rely on Intex for trading, portfolio management and risk management applications. Intex provides the following specialized applications for cashflow stress testing, price/yield generation, collateral performance analysis and deal structuring under user-defined prepayment/default scenarios: -INTEXnet: Web-based deal/portfolio analytics -INTEXdesktop: Client-resident deal/portfolio analytics -INTEX Subroutines: Cash flow generation engine and API for system builders -INTEX DealMaker: Deal structuring tool for the primary market In addition to these Intex-developed applications, over 25 leading third-party vendors have integrated Intex cashflow functionality into their more generalized applications. To learn more, visit Intex on the web at www.intex.com

Ogier's global structured finance teams are specialists in offshore legal advice in Asia, the Caribbean and Europe for a wide range of banks, issuers, underwriters,  trustees, managers, sponsors, corporate service providers and other financial institutions. We provide specialist legal advice on all aspects of traditional and cutting-edge finance structures, from securitisations to asset-backed lending, repackagings, structured products, CLOs (including risk retention structures) and other structured finance transactions.

Truva Trustees offers trustee services for all issues of domestic and cross-border medium-term note programmes, standalone corporate bonds, securitisation and all other forms of asset-backed and structured finance. We currently act as trustee on over 20 listed debt programmes

We are a business run principally by lawyers and everything we do is based on over 20 years of experience working on corporate and finance transactions in the UK, Europe, the US and Australia. The Truva Trustees team is headed up by CEO, Alper Deniz and CLO, David Egan.

The team is expert in all aspects of raising capital and work across a wide variety of sectors including renewable energy, property development and tech.

We pride ourselves on building strong, trustworthy relationships with our clients. This means our clients are able to depend on us to give them a first-class service. Process is everything, we are efficient, thorough and responsive. We never fail to get the job done.

To give you some more insight into what we do, Truva Trustees is appointed in a variety of structures to act as note trustee and security trustee.

When appointed by an issuer, Truva Trustees acts as a neutral interface with the issuer’s noteholders and ensures that the interests of those noteholders are appropriately represented.

Truva Trustees is also able to act as an independent security trustee and hold the benefit of security for an issuer’s creditors and noteholders.

We hire, partner with and develop the best, from team members to clients and partners, we aim high, work with the best and continually aim to be the best for our clients and our client's clients.

Founded in 1771, Vienna Stock Exchange (“VSX”) is celebrating its 250th anniversary this year! From the beginning, VSX has been ahead of its time – It was founded by a Female Founder by the name of Maria Theresa.

Nowadays, VSX offers a compelling service range of a fully-fledged cash market infrastructure provider at the highest quality level. VSX has established itself as one of the leading Dept Capital Market (DCM) listing platforms in Europe. Vienna MTF is currently the fastest growing MTF market in Europe.

Investors, issuers, and advisers particularly in the structured finance universe value the MTF platform, as it delivers what it was designed for: providing a fast, straight forward, and cost-efficient listing solution for debt securities.

VSX has become a truly international player with over 3000 listings in H1 of 2021 and featuring debt issuers from 30 different countries. The Vienna debt listing team has more than 60 years of experience in helping clients with their listing needs even in complex transactions and making things simple.

GlobalCapital is a leading news, opinion and data service for people and institutions using and working in the international capital markets. It provides you with clearly-voiced, lively coverage of key markets based on the comments of those who work in them, together with a wealth of transaction data and archive material.  Whether you wish to pick up the pulse of your market, to research in detail an issuer, intermediary or asset class in a particular sector, or to check out how your institution is performing relative to its peers, our service is for you.

GlobalCapital descends directly from EuroWeek (“the voice of the markets”), which has been covering new issues in primary markets for 26 years.  Joining the platform are also several key capital markets publications from the Euromoney Institutional Investor Group: Asiamoney, Total Securitization and Derivatives Week.  GlobalCapital also sees the introduction of a brand new service on the internationalisation of the RMB.

The combination of these elements on state-of-the-art new web technology provides a device-neutral, flexible global news and data service where relevant related articles and data are a click away.

GlobalCapital.com delivers daily services dedicated to the following key market sectors: FIG/Bank Finance including Covered Bonds, Corporate Bonds, Syndicated Loans, Equity, Leveraged Finance, Sovereign and Supranational and Agency Bonds (SSA), SRI/Green Bonds, Global Emerging Markets, Securitization, Asia Pacific Markets, Derivatives, and Offshore RMB. The service comes with sector specific priced deals data sets, league tables, deal pipelines and people moves.

ICLG.com is a leading global platform for legal reference, analysis and news, hosting comprehensive comparative legal guides and research tools that cover law in more than 191 jurisdictions across 59 practice areas. ICLG.com also provides daily legal news and legal conference directories, as well as online purchasing of the renowned International Comparative Legal Guide series of print publications.

ICLG.com also forms an international network of legal experts who, by contributing their expertise, reach a wide readership of legal and business professionals around the world. ICLG.com contributors and partners also benefit from a multi-channel marketing and promotion service which ensures them high visibility, online, in print and at legal events worldwide.

The Securitisation & Structured Finance Handbook 2022 offers a detailed insight into the securitisation and structured finance sector, looking at changes and developments in light of the Covid-19 pandemic.

Providing an overview of the current international marketplace, the 2022 edition of the Handbook will feature debates and analyses from worldwide experts on the future direction of the markets.

Areas due to be covered include: the ABS market throughout the stages of Covid-19; the role of CLOs as an important aid in Covid recovery; Solar ABS transactions; Aircraft ABS market; CMBS investing; STS securitisations and the EU securitisation framework; ESG policies and green securitisation; Managing the risks in MBS; European ABS markets; REITs; European CLOs; regional and country profiles; and regulatory reviews.

The Handbook is a valuable reference point for anyone wishing to further expand their knowledge on this exciting financial sector.