Job summary

Job Title

Associate, Securitisation

Location

London

Description

Associate, Securitisation
Ashurst's Global Markets
team
November 2020

About Ashurst

Ashurst is a leading global law firm with a history spanning almost
200 years, and clear strategy for our future growth. Our in-depth
understanding of our clients and commitment to providing exceptional
standards of service have seen us become a trusted adviser to local
and global corporates, financial institutions and governments in all
areas of commercial law. To find out more please visit
here.

In order to comply with regulatory and client requirements, Ashurst
will undertake appropriate vetting of staff. When applicants accept a
job offer, Ashurst, alongside a specialist provider, will undertake
professional verification and background checks. These checks are only
undertaken with consent, and in accordance with our legal and
regulatory obligations.

Team overview:

Ashurst's securitisation practice forms part of a wider Global
Markets Group. It sits alongside and works closely with Ashurst's debt
capital markets and derivatives and structured products practices.

The core areas of the team cover securitisations (RMBS/CMBS/auto
loans/consumer credit, prime/non-performing), whole business
securitisations, covered bonds, CLOs and trade receivables. The
practice covers true sale and synthetic structures.

Job overview:

You will work primarily with partners in London and Europe who
specialise in various types of structured finance transactions across
different asset classes.

You must be willing to be flexible and should be enthusiastic about
working in new product areas. The job offers exposure to multiple
different clients, sectors and associated financing techniques.

The role will offer the opportunity to work with sponsors, arrangers,
debt investors, corporates, banks, government and credit enhancement providers.

The role will also involve working closely with other groups within
Ashurst, including corporate, restructuring, banking, financial
regulatory and tax.

Essential skills and experience:

* Qualified Associate with proven post-qualification experience at a
major law firm.

* Experience of advising on structured finance transactions
preferred but not essential.

* Experience of drafting complex documents.

* Good organisational skills and experience in transaction management.

* Excellent academic track record.

* Excellent client relationship skills and experience of business development.

* Confidence in conducting commercial negotiations with counterparties.

* A collegiate team-player who works effectively with colleagues at
all levels.

Recent Work:

SHAWBROOK BANK as originator on their inaugural public securitisation
of buy-to-let mortgages (Shawbrook Mortgage Funding 2019-1 plc).

ALDERMORE BANK as originator in respect of the £381,136,3000 notes
issued by Oak No.3 plc, a special purpose vehicle backed by a
portfolio of prime mortgages originated by Aldermore. This was
Aldermore's first public STS transaction.

SANTANDER UK PLC on updates to (and issuances from) their Holmes and
Fosse residential mortgage master trusts, including advising on
amendments to comply with the Securitisation Regulation and STS criteria.

SANTANDER, HSBC, MUFG AND WELLS FARGO as lead managers on the public
"STS" securitisation of a portfolio of automotive HP and PCP
agreements originated by PSA Finance UK Limited (Auto ABS UK Loans
2019 plc).

PRAETURA ASSET FINANCE as originator in respect of a private
warehousing of finance lease and hire purchase assets with funding
provide by a major UK bank.

BS INFRASTRUCTURE DEBT FUND ('UBS') on the financing of the
acquisition of a portfolio of distressed loans, deriving from project
financing and financial lease agreements in the photovoltaic sector,
by WRM Group from MedioCredito Italiano.

DEUTSCHE LEASING/SOCIETE GENERALE/LBBW on the EUR800m non-captive
lease STS securitisation Limes 2019-1 for Deutsche Leasing. This
transaction was the establishment of a new platform and inaugural
public transaction for Deutsche Leasing.

LOWELL / "MILLA 4" TRANSACTION on the MILLA 4 transaction. A
repackaging of EUR1 billion NPL securitisation under the "Milla"
issuance platform.

RBI/LBBW/COMMERZBANK as conduit lenders on a co-funded
multi-jurisdictional trade receivables securitisation for the Wepa group.

LLOYDS BANK CORPORATE MARKETS as lead manager on VCL 28, a
securitisation of lease receivables by Volkswagen Leasing GmbH This
was the first public STS securitization transaction in the European
asset backed securities market.

CLO TRANSACTIONS advising various market leading trustees and agents
on over 20 CLO 2.0 warehouses, note issuances, refinancing, resets and
origination platforms with an aggregate exposure of over €5,000,000,000.

LEASEPLAN CORPORATION N.V. on the STS securitisation of an operating
lease portfolio consisting of auto lease receivables and auto residual
values. The issuer, Bumper 2019-1 S.A., issued notes with a total
nominal value of € 544m backed by auto lease receivables and auto
residual values which were sold by LeasePlan Deutschland GmbH.

Representative Clients:

* Allianz Global Investors

* Apollo

* Bank of America Merrill Lynch

* Barclays

* BP

* Cheyne Capital

* HSBC

* Her Majesty's Government, including Her Majesty's Treasury (acting
through the Infrastructure and Projects Authority)

* Lloyds

* Macquarie/MIDIS

* Mitsubishi UFJ

* Morgan Stanley

* Santander

Career advancement:

An established Associate Career Path Framework is in place clearly
defining expectations and outlining opportunities for promotion.

Secondment opportunities:

Opportunities often arise for associates to spend time on secondment
in house with a key client of the firm. From time to time, secondment
opportunities also come up within other Ashurst offices in Europe,
North America, Asia and Australia.

*LI