Firms To Watch: Derivatives and structured finance

Since the October 2021 arrival of practice head Julien Bacus, who brings over 20 years of experience in the derivatives and structure finance space, the Paris office of international law firm Addleshaw Goddard continues to grow, providing a comprehensive service to major banks and non-bank financial institutions, and major corporates across the energy, retail, and automotive sectors.
Led by Asdrig Bourmayan, who is dual qualified capital markets and derivatives, the team at Simmons & Simmons brings strength to advising major financial institutions and corporates on repackagings, cash securitisations and retail structured products.

Firms in the Spotlight Derivatives and structured finance

Vivien & Associés

Vivien & Associés logo

Vivien & Associés offers competitive legal services and representation across a broad range of key practice areas:

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CHASSANY WATRELOT & ASSOCIES

CHASSANY WATRELOT & ASSOCIES logo

A FULL-EXPERTISE HUMAN RESOURCES LAW FIRM   Founded in 1987, Chassany Watrelot & Associés (CWA) is one of the main French law firms whose activity is exclusively dedicated to employment law and all other legal areas related to human resources management (insurance law, tax law…).

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Derivatives and structured finance in France

Allen & Overy LLP

The powerhouse Paris derivatives and structured finance team at Allen & Overy LLP remains a market leader, coordinating with its tax, pensions, restructuring, insurance, bank, commodities and securities regulatory teams to provide a one-stop-shop for major financial institutions (such as Crédit Agricole CIB) for a comprehensive range of asset classes, including rates, FX, credit derivatives, equities and commodities. The team is led by managing partner Hervé Ekué, who brings over 20 years of experience to derivatives securities matters, and Fabrice Faure-Dauphin, a structured finance and securitisation expert with a background in consumer and auto loans, covered bond structures and complex bank balance sheet funding structures. Counsel Caroline Marion brings expertise to advising originators and arrangers on high-value domestic and multi-jurisdictional transactions.

Practice head(s):

Hervé Ekué; Fabrice Faure-Dauphin


Other key lawyers:

Caroline Marion


Testimonials

‘Hervé Ekué – availability, ingenuity, a lawyer of great stature.’

‘Best in class in securitisation and fund activity.’

‘A&O’s securitisation team brings in-depth expertise on the legal and tax aspects of securitisation, and effectively coordinates a very strong European network.’

Key clients

Amundi


Crédit Agricole CIB


Crédit Mutuel (formerly CM-CIC)


Natixis


RCI Banque


Work highlights


  • Acting for Temsys (ALD Automotive), as originator for the establishment of FCT Red & Black Auto Lease France 1.
  • Acting for Alantra Corporate Portfolio Advisors International Limited as financial advisor and a French financial institution as originator of a synthetic SRT securitisation transaction referencing a portfolio of performing residential loans.
  • Advised Natixis on the upsizing of the synthetic “on balance sheet” securitisation of French portfolio backed corporate loans.

Clifford Chance

The Paris derivatives and structured finance team at global firm Clifford Chance continues to lead in the marketplace, coordinating with its US securities team to provide a comprehensive service to major domestic and international financial institutions (Crédit Agricole CIB, Société Général, Credit Suisse, Bank of America, Morgan Stanley), international financial organisations (IFC/World Bank), insurers (AXA, Covéa), fund managers (Allianz, Prime Capital), and corporates across such sectors as hospitality, energy, transport, utilities, retail and beverages. Headed by practice area authority Jonathan Lewis, trade receivables expert Julien Rocherieux and financial regulation specialist Frédérick Lacroix, the team’s services also extend to repackaging, factoring, alternative financing products and real estate and equity financing. Counsel Fabien Jacquemard brings strength to matters involving ABCP conduits.

Practice head(s):

Jonathan Lewis; Julien Rocherieux; Frédérick Lacroix


Other key lawyers:

Fabien Jacquemard; Sophie Guilhem-Ducléon; Guillaume Massole


Testimonials

‘This team has an excellent knowledge of the complex legal specificities surrounding this type of financing and has a perfect knowledge of market practices. They share their skills and find innovative and pragmatic solutions to circumvent any blockages that can be encountered in this type of transaction.’

‘Fabien Jacquemard has an excellent command of fundraising and his presence and involvement in files is highly-appreciated; his pragmatism is a real asset for clients.’

Key clients

Crédit Agricole CIB


Natixis


Société Générale


IFC/World Bank


Banco Santander


Bank of America/Merrill Lynch


Banque Internationale à Luxembourg


Barclays (for Derivatives)


BNY Mellon (for Derivatives)


Citi (for Derivatives)


Credit Suisse


Deutsche Bank


Ecobank


Morgan Stanley


NatWest


AXA


Covéa


Carrefour


EDF and EDF ENR


Pernod Ricard


Rexel


Allianz


AEW


Generali


Prime Capital


Swiss Life AM


Work highlights


  • Advising the mezzanine investors (Bank of America DAC) in relation to the new EUR 1.8bn securitisation transaction arranged for the financing of the truck fleet of Fraikin.
  • Advising Carrefour Banque in relation to its public ‘STS’ (simple, transparent and standardised) securitisation of revolving credit receivables associated with its issued ‘Pass’ cards.
  • Advising Covéa in relation to the bidding process and conclusion of $3.8bn Contingent FX Hedging transactions in connection with its attempted acquisition of Partner Re.

CMS Francis Lefebvre

The Paris CMS Francis Lefebvre derivatives and structured finance group remains a force in the marketplace, bringing strength to advising major domestic and international financial institutions and private equity firms (Crédit Agricole Corporate and Investment Bank, Société Générale, BNP Paribas, My Money Bank/Cerberus) and corporates in gases, retail and mining, on a comprehensive range of matters. The practice utilises two dedicated groups: securitisation and structured finance (led by Grégory Benteux, who brings extensive experience counselling clients on the arranger or originator’s side, and Alexandre Bordenave, a specialist in distressed financings and banking litigation) and derivatives (part of the capital markets team, led by Rosetta Ferrère, who handles share equity and equity-linked products, and capital markets head Marc-Etienne Sébire). Counsel Pauline Larroque brings expertise to ESG derivative instruments.

Practice head(s):

Grégory Benteux; Etienne Sébire; Alexandre Bordenave; Rosetta Ferrère


Other key lawyers:

Pauline Larroque


Testimonials

‘The team is amazing, very knowledgeable and professional. They respond quickly and take care of everything.’

Key clients

Crédit Agricole Corporate and Investment Bank


BPCE


Natixis


SFIL


Bpifrance


Société Générale


BNP Paribas


La Banque Postale


My Money Bank/Cerberus


SOFAC Structured Finance


Work highlights


  • Advised Cerberus and MMB Group on the home loans refinancing and covered bonds aspects of the acquisition by MMB group of the retail activities of HBCE Continental Europe in France.
  • Advised covered bonds issuers (CAFFIL, SFIL, BPCE SFH, CM CIC Home Loans SFH, MMB SCF) representing a large part of the market, in order to implement the European reform on covered bonds entered into force on 8 July 2022.
  • Advised Moroccan bank SOFAC and its subsidiary Sofac Structured Finance, for the setting-up of a securitisation transaction of receivables arising from vehicle leasing contracts with a purchase option.

Gide Loyrette Nouel A.A.R.P.I.

The experienced team at Gide Loyrette Nouel A.A.R.P.I. remains a leader in the practice space, advising major domestic and international financial institutions (BNP Paribas, Société Générale, Bank of America Merrill Lynch, HSBC, Barclays) and asset managers, services airlines (Air France) and corporates such as Veolia across such sectors as car rentals, waste management and data and analytics, on a wide range of securitisation transactions and asset-backed finance transactions. The team is headed by Arnaud Duhamel, who focuses on strategic equity derivatives transactions and equity financings, and structured derivative products specialist Laurent Vincent. Counsel Clément Vandevooghel brings expertise to loan portfolio sales (including non-performing loans), asset-backed lending and debt capital markets. Samir Bensaker was promoted to partner in July 2022. Co-practice head Xavier Chassin de Kergommeaux departed in February 2023.


Practice head(s):

Arnaud Duhamel; Laurent Vincent


Other key lawyers:

Clément Vandevooghel


Testimonials

‘Recognised experts at the forefront of the latest practices.’

‘Attentive to the customer, educational and available.’

‘I really appreciate working with Laurent Vincent, who, on very technical subjects, brings theoretical knowledge and his knowledge of remarkable market practices. He expresses himself very clearly in both English and French and is capable of impressive teaching efforts.’

Key clients

BNP Paribas


Société Générale


Citigroup


Natixis


La Banque Postale


Veolia Environnement


Bank of America Merril Lynch


HSBC


Air France KLM


Barclays


Antin Infrastructures Partners


Goldman Sachs International


J.P. Morgan


ALD Automotive Limited


Eiffel Investment Group


BPCE


Work highlights


  • Assisted banks (Natixis and Caisse d’Epargne et de Prévoyance Bretagne Pays de Loire) with the negotiation of the hedging documentation with BioSynErgy in the context of a public-private partnership (PPP) for the EUR 139m financing of the development of an energy conversion power plant in Le Havre.
  • Assisted an investment bank with the negotiation of the hedging documentation with Junia Grande Ecole d’Ingénieurs (a non-profit organisation) in the context of the EUR 133m financing of the rehabilitation work and extension of its campus in Lille.
  • Advised Natixis as arranger in the restructuring of a EUR 50m securitisation programme of credit card receivables originated by Oney Bank.

Jones Day

Backed by a global network spanning five continents, the Paris team at Jones Day remains a key market player, utilising experience and deep bench strength to advise major financial institutions (BNP Paribas, Crédit Agricole Corporate and Investment Bank, Goldman Sachs, Morgan Stanley) and multinational corporates (such as EDF) involved in high-value structured financings and securitisation transactions. The team is led by Alban Caillemer du Ferrage (French counsel to the International Swaps and Derivatives Association), Christine Van Gallebaert (an expert in securitisation, covered bonds and debt funds) and Qian Hu (a specialist in ESG derivatives, virtual power purchase agreements and carbon trading). Of Counsel Marie-Fleur Rautou brings strength to financial products regulatory matters. Carine Mou Si Yan joined the firm in late 2023.

Practice head(s):

Alban Caillemer du Ferrage; Christine Van Gallebaert; Qian Hu


Other key lawyers:

Marie-Fleur Rautou; Carine Mou Si Yan


Key clients

BNP Paribas


Crédit Immobilier de France Développement


Caisse Centrale du Crédit Immobilier de France SA


Natixis


October and Intesa Sanpaolo


Crédit Agricole Corporate and Investment Bank


Goldman Sachs Bank Europe SE


BPCE S.A.


Morgan Stanley


Citigroup


EDF


International Swaps and Derivatives Association (ISDA), French Banking Federation (FBF), International Capital Markets Association (ICMA), Securities Industry and Financial Markets Association (SIFMA), German Banking Association (Zentraler Kreditausschuss) and Financial Markets Lawyers Group (FMLG)


Banque Pictet


Work highlights


  • Acted as legal adviser to Natixis and Goldman Sachs Bank Europe SE, joint lead managers, and Natixis, interest rate swap counterparty, on the securitisation of French residential loans originated by the Banques Populaires and the Caisses d’Epargne through the French fonds commun de titrisation “BPCE Home Loans FCT 2021 Green UoP”.
  • Acted as legal adviser of Crédit Immobilier de France group on its fifth public securitisation of French residential loans of EUR 635m through the French fonds commun de titrisation “Harmony French Home Loans FCT 2022-1”.
  • Advised Natixis, as arranger and permanent dealer, and AXA Home Loan SFH, as issuer, on the update of the EUR 10bn EMTN programme for the issuance of Covered Bonds (obligations de financement de l’habitat) of AXA Home Loan SFH signed on 13 May 2022.

Latham & Watkins

The Paris derivatives and structured finance group at Latham & Watkins continues to lead in the practice area, combining the experience of its team with the strength of a global network spanning North America, Europe, the Middle East and Asia-Pacific regions, to advise major financial institutions and asset managers (Goldman Sachs, Eurazeo), blockchain companies and corporates in such sectors as energy, travel and packaging (including TotalEnergies, Lagardere, Schoeller Allibert), involved in cross-border, high-value transactions. Thomas Vogel leads the team, displaying expertise in strategic equity solutions and fixed income transactions. Suzana Sava-Montanari brings strength to securitisations and financial regulatory matters. Associate Jaime Hall provides support to complex strategic contingent hedging transactions.


Practice head(s):

Thomas Vogel


Other key lawyers:

Suzana Sava-Montanari; Jaime Hall


Key clients

TotalEnergies


AXA SA


Lagardere SA


Eurazeo SA


Schoeller Allibert


Goldman Sachs Plc


AXA Investment Managers Paris


Luxor Capital LLP


Al Mirqab LLP (family office Prime Minister of Qatar)


Dilmon LLP (family office Emir of Qatar)


McCourt Foundation (acting through Unfinished Labs)


MakerDAO


Magnetar Capital, LLC


Newmarket Capital


Linklaters

Backed by 30 offices worldwide, the team at the Paris office of Linklaters marshals combined bench strength to assist major financial institutions (European Investment Bank (EIB), Credit Suisse, BNP Paribas) and corporates in fintech, renewables, infrastructure and IT (Meridiam, Accenture), on a wide range of structured finance and securitisation products. Practice head Patrice Doat is a specialist in advising investment banks, private equity and debts funds, project bonds, auto loans, ABCP and receivables securitisation and factoring and car fleet securitisation transactions. Counsel Guillaume Malaty brings expertise to the sale and financing of non-performing loan portfolios, while counsel Agathe Motte departed in January 2022.

Practice head(s):

Patrice Doat


Other key lawyers:

Guillaume Malaty


Testimonials

‘Very good knowledge of the market and regulatory developments.’

‘The ability of the team to integrate both our internal and business issues. The skill and responsiveness of the team means that we almost always use them.’

‘An absolutely exceptional level of skill, efficiency and creativity, in all circumstances. A very rare and truly appreciable business sense. And always in a good mood. We work with confidence and pleasure with Patrice Doat and Guillaume Malaty, in particular.’

Key clients

CREDIPAR


European Investment Bank (EIB)


Acofi Gestion


UniCredit Bank AG


CCR RE


Alma


Accenture


Credit Suisse


Natixis


R3


SIX Digital Exchange


UBS


BNP Paribas, CIC, SMBC, BPIfrance and AFD


Meridiam, SARA and HDF


CACIB


Work highlights


  • Advised Credipar, French vehicle financing company, on a EUR 1bn public “STS” (simple, transparent and standardised) securitisation.
  • Advised Société Générale and ABN AMRO Bank N.V., as joint lead managers, on a new public STS securitisation of auto lease and related residual value receivables originated by LeasePlan France.
  • Advised EV Cars (a subsidiary of Meridiam) and Meridiam as part of EV Cars’ project to deploy more than 200 fast and ultra-fast-charging stations for electric vehicles in the car parks of the Carrefour group’s hypermarkets in France.

Orrick

The specialists at Orrick bring strength to advising major financial institutions (BNP Paribas, Crédit Agricole, Morgan Stanley, Société Générale) and corporates in aerospace, car rentals, energy, on high-value securitisations and domestic and cross-border structured finance transactions. The team is led by Hervé Touraine (the Chair of the Securitisation Commission of Paris (EUROPLACE). Olivier Bernard brings to the group over 20 years of experience in the practice area. Other key figures include of counsel Judith Rousvoal (who assists with the finance of major infrastructure projects) and structured finance expert Laure Seror. Since publication, Carine Mou Si Yan left the firm.

Practice head(s):

Hervé Touraine


Other key lawyers:

Olivier Bernard; Judith Rousvoal; Laure Seror


Testimonials

‘The team is built around two professionals working in tandem on operations, Olivier Bernard and Laure Seror, which minimises operational risk. It also has access to junior resources.’

‘Serious, attentive to operational implications, natural authority, available, sympathetic, rigorous, excellent lawyers.’

‘High availability of a team which has innovative solutions for each situation.’

Key clients

AXA Banque


BNP Paribas


BPCE


Crédit Agricole Consumer Finance


Crédit Agricole Corporate and Investment Bank


La Banque Postale


Morgan Stanley


Natixis


Natixis Investment Managers International


Société Générale


Work highlights


  • Advising Groupe BPCE on its first public ‘green’ securitisation of residential loans, which was valued at around EUR 1.5bn and is the largest transaction of its type by a French issuer to date.
  • Advised BPCE and Natixis on the update of and issuances under the EUR 40bn RMBS programme of Groupe BPCE.
  • Advised Société Générale, the arranger and lead manager, on the first public securitisation transaction – worth EUR 468m – by TEMsys (ALD Automotive France), the French subsidiary of ALD Automotive Group.

Ashurst LLP

Backed by the combined bench strength of 30 offices spanning Asia, Australia, Europe, the Middle East and North America, the Paris team at Ashurst LLP advises major financial institutions (Crédit Agricole, Barclays, JP Morgan, BNP Paribas), asset managers, fintechs, funds and corporates in utilities, aerospace, energy and the automotive industry, on a broad range of matters across the practice area. Bolstered by the January 2022 arrival of practice co-head Agathe Motte and her structured finance team (counsel Aurélien Fournier and associate Lucien Jarry) from Linklaters, the group brings expertise to financial regulation, fund structuring and high-value securitisations. Practice co-head and market infrastructure and financial service sector specialist Hubert Blanc-Jouvan assists with equity derivatives, securities lending and repurchase transactions. Other key figures include senior associate Annabel Massey Bratby and associate Amel Essid.

Practice head(s):

Agathe Motte; Hubert Blanc-Jouvan


Other key lawyers:

Aurélien Fournier; Lucien Jarry; Annabel Massey Bratby; Amel Essid


Testimonials

‘Agathe Motte and Aurélien Fournier have very good technical skills, are able to work with very tight deadlines, and have a very good ability to negotiate the interests of their clients.’

‘Special mention for Aurélien Fournier, who combines an impressive capacity for execution with remarkable availability and interpersonal skills.’

Key clients

Natixis


Crédit Agricole Corporate & Investment Bank


Barclays


JP Morgan


BNP Paribas


Citigroup


Goldman Sachs


TP ICAP


Aurel BGC


Louis Capital Markets


Eurotitrisation


Déxia Crédit Local


Crédit Suisse


Work highlights


  • Advised Natixis and Crédit Agricole CIB as arrangers in a public “STS” (simple, transparent and standardised) securitisation of revolving credit receivables associated with PASS cards distributed by Carrefour Banque.
  • Advised a public utility company on the structuring of its EUR 700m receivables factoring programme involving trade receivables originated by around 100 entities based in Europe, the UK, the USA and Australia.
  • Advising Citigroup on the updates of all French law aspects of its structured products programmes, including (i) the clearing of English law governed securities by Euroclear France and (ii) the issue of French law governed securities.

De Pardieu Brocas Maffei

The derivatives specialists in Paris at independent law firm De Pardieu Brocas Maffei brings expertise to advising major financial institutions (BNP Paribas, Crédit Agricole, Société Générale, Barclays, HSBC) and domestic and multinational corporates in advertising services and wine and spirits.  The practice was strengthened by the January 2022 arrival of corporate partner (who has 25 years’ experience in securities law) Etienne Boursican from Orrick, to the firm’s capital markets team, which includes the derivatives and structured finance team, led by Corentin Coatalem, who manages complex matters involving acquisition and syndicated finance and debt restructuring. Associate Aurélie Paneels utilises a banking and finance background.

Practice head(s):

Corentin Coattalem


Other key lawyers:

Etienne Boursican; Aurélie Paneels


Testimonials

‘Excellent service.’

Key clients

Crédit Agricole CIB


JCDecaux Holding


Société Générale


BNP Paribas


LCL


Natixis


Crédit du Nord


Barclays


HSBC


Dexia


Work highlights


  • Advising Crédit Agricole CIB on the restructuring of Foncière Euris’ derivative instruments and receivables on Rallye (Casino) shares via a maturity extension.
  • Acted as legal counsel of the Ricard family holding (SAPR) on the implementation of equity derivative products (prepaid collar) for a financing.

Herbert Smith Freehills LLP

The Paris office group at Herbert Smith Freehills LLP leverages the strength of its global network and the experience of its team to advise major financial institutions (Crédit Agricole, Société Générale, BNP Paribas), asset managers (Equitis Gestion), insurers (Allianz Trade, CNP) and corporates in the transport, real estate, advertising and tech sectors, on matters ranging from securitisation, debt funds, factoring, structured finance, export financing and regulatory matters. The group is headed by Vincent Hatton (who specialises in RMBS, ABS, CMBS project bonds and whole business securitisations) and Louis De Longeaux (who brings over 24 years’ experience to equity linked derivatives). The team is supported on major transactions by senior associate Philippe Desvignes.


Practice head(s):

Vincent Hatton; Louis de Longeaux


Other key lawyers:

Philippe Desvignes


Testimonials

‘Very good knowledge of the product of assignment of receivables and excellent strength of proposal.’

‘Excellent transaction counsel work in complex transaction involving special situations.’

‘Responsiveness and defence of the interests of its clients’

Key clients

Crédit Agricole Group


Société Générale Group


Deva Capital


Bpifrance


Intrum


My Money Bank


CNP


Banque Fiducial Thémis


AXA (AXA Investment Management, AXA Germany, etc.)


Equitis Gestion


SFIL


BNP Paribas


Euler Hermes


La Banque Postale


Ester Finance Technologies


Tikehau (Tikehau Capital, Tikehau Investment Management)


Hogan Lovells (Paris) LLP

Powered by the deep bench strength of offices across the Americas, the Asia Pacific and EMEA regions, the Paris team at Hogan Lovells (Paris) LLP advises major financial institutions, funds, leasing companies (LeasePlan), asset managers and corporates in the building materials and automotive sectors. Five members of the capital markets group bring expertise to heading the practice: finance insurance and investment leader Sharon Lewis (who is also based in London and excels in securitisations, derivatives, repackaging and other structured products, corporate bonds), Laura Asbati (a trade receivables specialist who was promoted to partner in January 2022), Vincent Fidelle, Katia Merlini (who brings 20 years’ experience to structured finance regulatory matters) and equity capital markets partner Jean-Marc Franceschi. The group is supported by counsel Reza Mulligan, who utilises a banking background.

Practice head(s):

Sharon Lewis; Laura Asbati; Vincent Fidelle; Katia Merlini; Jean-Marc Franceschi


Other key lawyers:

Reza Mulligan


Testimonials

‘Hogan Lovells is distinguished by the exceptional commitment of its teams: availability, speed and high quality of service, both in terms of content and form. You feel perfectly supported and advised.’

‘Laura Asbati is very committed to delivering quality work, protecting her client’s interests and finalising a transaction on time.’

‘Beyond a simple team bringing together key skills for structured finance transactions, people know how to work together perfectly to bring innovative ideas.’

‘The firm Hogan Lovells’ securitisation department is a real partner in the implementation of our transactions. The dialogue between the international teams and Paris is fluid in the search for common solutions to move projects forward.’

‘We particularly appreciate working with Laura Asbati for her flawless presence in our cases, her pragmatism and her responsiveness. An experienced lawyer, she has a very good knowledge of the market, demonstrates professionalism and remains available throughout the process of setting up our operations: from the first discussions to post-closing.’

‘Katia Merlini is an extremely pedagogical lawyer, always listening to her clients and available with a great knowledge of banking and financial law.’

Key clients

LeasePlan Corporation N.V.


RCI Financial Services Limited


IC Financial Services S.A., IC Financial Services UK Limited and Iveco Capital Solutions S.pA. (each part of the Fiat Group)


Work highlights


  • Advised LeasePlan, one of the world’s leading leasing companies, on its new public ‘simple, transparent and standardised’ (STS) securitisation of auto lease and related residual value receivables originated by its French subsidiary, LeasePlan France.
  • Advised Fiat group companies in relation to the restructure of its existing European multi-jurisdictional wholesale receivables securitisation programme in order to provide for an existing “on-highways” programme and to establish a new “off-highways” programme.

Mayer Brown

The Paris team at Mayer Brown utilises a global presence spanning the Americas, Asia, Europe, and the Middle East to advise financial institutions (BNP Paribas, J.P. Morgan), insurance companies, investment funds, rating agencies, mezzanine funds and corporates in sectors ranging from chemicals to logistics, on high-value, cross-border transactions. Headed by practice area expert François-Régis Gonon, the group assists with the structuring or restructuring of several pan-European or French securitisation or factoring programmes, the creation and structuring of French or global debt funds and trade receivables purchase programs. Other key figures include banking specialist Alban Dorin, senior counsel Véronique Collin (who arrived in April 2022 from Squire Patton Boggs with associate Matthieu Lebourgeois) and associate Bassem Caradec. Newly qualified Mélanie Lakthif joined in June 2022.


Practice head(s):

François-Régis Gonon


Other key lawyers:

Alban Dorin; Véronique Collin; Bassem Caradec


Key clients

BNP Paribas


DIAC SA


FactoFrance


J.P. Morgan


Mitsubishi UFJ Financial Group (MUFG)


Work highlights


  • Represented DIAC SA, the financial subsidiary of brands of the Alliance for the Renault Group, on the securitisation of auto loans originated by DIAC for a total amount of EUR 747.1m.
  • Advised BNP Paribas in the structuring of 2 fund financing transactions with major French private equity houses.
  • Advising Mitsubishi UFJ Financial Group (MUFG) as arranger and invoice purchaser in the structuring of pan-European supply chain financing programmes with global industrial or commercial groups.

Reed Smith

The derivatives and structured finance team at the Paris office of Reed Smith advises domestic and major multinational corporates, financial institutions and investment funds on high-value, cross-border transactions. The group also provides regulatory support with matters related to licensing, interest rates and derivatives in energy commodities, agricultural commodities and metals. The experienced team is led by Victoria Westcott, who brings a multidisciplinary skill set which spans project finance, leasing transactions and secured and unsecured syndicated lending, and Baptiste Gelpi, who brings over 20 years to matters ranging from complex securitisations to fund-related regulatory and compliance issues. Fernand Arsanios left the firm in September 2022.

Practice head(s):

Victoria Westcott; Baptiste Gelpi


White & Case LLP

The Paris derivatives and structured finance team of global firm White & Case LLP provides a comprehensive range of services to major financial institutions (Barclays, Bank of America Merrill Lynch, BNP Paribas, Crédit Agricole J.P. Morgan, Société Générale), corporates (Air France-KLM, Engie, LVMH, Michelin, Peugeot, Vinci), insurers (AXA, CNP) and sovereigns (Republic of Gabon, Republic of Cameroon). The team is led by Séverin Robillard, a specialist in capital markets securities offerings, and supported by counsel Emmanuel Lebaube, who brings strength to complex securitisations involving consumer loans, auto loans, mortgage loans and credit cards. Tatiana Uskova was promoted to counsel in January 2022.

Practice head(s):

Séverin Robillard


Other key lawyers:

Emmanuel Lebaube


Key clients

Barclays


Bank of America Merrill Lynch


BNP Paribas


Citigroup


Crédit Agricole


Credit Suisse


Deutsche Bank


Goldman Sachs


HSBC


J.P. Morgan


Air France-KLM


Engie


LVMH


Michelin


Peugeot


Suez


Vinci


Republic of Cameroon


Republic of Gabon


AXA


CNP Assurances


Work highlights


  • Advised Eiffage and Groupe Arcade-Vyv on a concession contract granted in France for outsourced management of a housing estate owned by the Ministry of Armed Forces for a total of more than EUR 7bn.
  • Represented BNP Paribas as arranger for a EUR 8bn securitisation of French residential mortgage loans.
  • Represented Crédit Agricole CIB as arranger on a EUR 915m securitisation of French consumer loans originated by CA Consumer Finance.