Hogan Lovells

Comment: This firm highly recommended for structured finance and recommended firm for debt issues distinguished itself with portfolio transactions within its securitization practice. The best example of this is its work for Nord/LB on the restructuring and implementation of a privately placed securitization of distressed ship loans worth billions of euros. In addition, its strong position in auto-loan securitizations, attributable to the work and good reputation of Helms, who is much praised by competitors, remains unchanged. Here, VW and Daimler in particular count among its long-time clients. The team also advised Raiffeisen-Leasing on its first ABS transaction with a volume of €438m. In classic debt issues, HL went rather undetected, concentrating above all on advice on bonds, e.g. for Repower and Nord/LB. In addition, it advised on various issues of registered bonds as well as of participation certificates. The arrival of former Mayer Brown practice head Dr. Jochen Seitz together with partner Peter Maier gave the firm a shot in the arm.
Strengths: A great deal of experience in auto-loan securitization, instructions related to restructuring.
Recommended: Dr. Sven Brandt, Prof. Dr. Michael Schlitt (“first-class advisor, comprehensive know-how in capital markets”, client; “highly active”, competitor), Dr. Dietmar Helms (“good lawyer and securitization expert”, “brought HL forward in securitizations”, “great respect”, competitors), Dr. Jochen Seitz (“very visible in the market”, “always on the go”, competitors).
Practice: Advice to banks and originators on securitization (incl. trade, leasing and credit card receivables, also new asset classes). Auto-loan securitizations. Advice to public bad banks on restructuring, also bond programs. Equity-linked bonds and derivatives. (7 partners, 2 counsel, 8 associates)
Clients: ?? Nord/LB, Repower respectively on various bonded loans; Katjes on bond increase; Mercedes-Benz Bank on securitization of €1.1bn in auto loans; Nord/LB on securitization of €1.5bn ship NPL; Barclays, BNP Paribas, Deutsche Bank, Goldman Sachs, RBC, TD Securities on $1.5bn FMS bond.
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