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Devonshires’ banking team offers advice on a full range of capital markets debt products including
We have advised on issues listed in London, in Dublin and with other international listing authorities.
Our experience covers all the main business sectors including social housing, commercial property, finance advisory services and projects/PFI vehicles. We also deal with private placements and unlisted issues. A number of the issues we have advised on involve establishing special purpose vehicles which undertake capital markets debt issues for on-lending either within a corporate group or to a number of entities operating in a sector.
Some of the largest issue on which we have advised include Circle Anglia Social Housing Plc (£1.6 billion) and Housing Securities Limited (which we established and has raised over £300,000,000). We have good relationships with investment banks and consultants advising in the sector.
Property-backed stock and bond issues require large volumes of property to be charged within a short period. Our property security team has developed highly sophisticated and efficient systems for ensuring that deadlines are met and that certificates of title are prepared in accordance with market requirements. Security arrangements include establishing security trusts which allow for giving collateral security, and for security to be re-allocated between primary debts.
We also act on a large number of variations of existing capital markets loan documentation either with or without obtaining stockholders’/bondholders’ consent.
For a competitive quote please contact Andrew Cowan, Gareth Hall or Julian Barker or, in relation to property security, Sharon Kirkham.
