Law firm provides counsel to Avida Finans regarding a SEK 2.8 billion securitisation deal
In a significant move, Avida Finans AB, a leading credit market company based in Stockholm, has announced a synthetic securitisation transaction. The deal, which involves the placement of a mezzanine tranche in the form of credit linked notes with private investors, is aimed at hedging the unexpected loss of a reference portfolio worth up to SEK 2.8 billion in consumer loans originated by Avida in the Nordics.
Revel Partners, a renowned financial advisory firm, acted as the arranger for this transaction. Advokatfirman Delphi advised Revel Partners in their role as arranger and advisor. The legal aspects of the deal were handled by White & Case LLP, with a team led by partners Dennis Heuer, Tom Falkus, Michael Bark-Jones, and Claire-Marie Mallad.
Dennis Heuer specializes in Debt Finance, Capital Markets, Financial Services Regulatory, Financial Restructuring and Insolvency, Fintech, and Technology. Michael Bark-Jones focuses on Capital Markets, Bank Lending, Borrower Finance, Private Credit & Direct Lending, Technology, Debt Finance. Tom Falkus specializes in Capital Markets, Financial Restructuring and Insolvency, Derivatives, Fund Finance. Claire-Marie Mallad specializes in Capital Markets.
Alexander Berlin-Jarhamn, an associate from White & Case LLP, brings expertise in Debt Finance, Technology, Sustainability & Responsible Business, Borrower Finance, Private Capital. Nga Nguyen and Anna Spentzou, also associates from the firm, round out the team with their legal acumen.
White & Case LLP also advised Avida Finans AB on its first synthetic securitisation transaction under EU STS regulations. The service areas covered by White & Case LLP include Capital Markets, Debt Finance, Financial Institutions, Western Europe, Germany, and the United Kingdom, with a specific focus on Sweden.
The local media contact for further information on this transaction is not specified in the provided paragraphs. However, this transaction marks a significant step for Avida Finans AB as it seeks to free up risk-weighted assets and continue its growth in the consumer and SME financing sector.
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