A cross-border team from global law firm Norton Rose Fulbright has advised ME on a significant residential-mortgage backed fund raising of AU$1.5 billion.
The SMHL Series Securitisation Fund 2016-1 transaction used for the raising was the most attractively priced Australian residential mortgage backed security (RMBS) for the year, with the most senior notes issuing at year low margins.
The transaction structure provided for six classes of bonds. Norton Rose Fulbright in Australia co-ordinated the transaction, drafted the offering documents and all transaction documents, and gave the Australian legal and tax opinions for ME. The London, Hong Kong and Singapore offices of Norton Rose Fulbright were involved in settling the offering document in respect of a number of jurisdictions.
Norton Rose Fulbright partner Scott Millar, who led the deal, commented:
“We are really pleased to have assisted ME on another successful transaction under its SMHL programme. It was a smooth transaction that utilised expertise in a number of our overseas offices and the pricing reflects both a quality product and, hopefully, a strengthening of the Australian RMBS market.”
Melbourne partner Scott Millar led the team in Australia, which consisted in Melbourne of special counsel Melbourne Adele Gray, associate Eleanor Taylor and senior associate Fleur Shaw-Jones; in Sydney of special counsel James Morris, partner Ellen Thomas and senior associate Claire Falkner; and in Brisbane of partner Dale Rayner and associate Ben Bourke.
Work outside Australia was done in London by partner David Shearer and associate Tudor Plapcianu; in Hong Kong by partner David Johnson; and in Singapore by partner Vicky Muenzer-Jones.
For further information please contact:
Alex Boxsell, Senior Brand & External Communications Manager, Norton Rose Fulbright in Australia
Tel: +61 (0)2 9330 8165 Mob: +61 (0)414 985 556
Notes for editors:
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