City law firm Speechly Bircham LLP acted for AE Global Investment Solutions Ltd (Aegis) on the launch of Cavendish Opportunity Investments Limited’s €1bn Multi-Issuer Secured Note Programme and the first note issuance for the Programme, being up to €200m Series 1 Participating Notes due 2015 for the purpose of acquiring a portfolio of European mezzanine asset-backed securities (ABS).
Aegis acted as the arranger for the establishment of the Programme and Cavendish Opportunity Investments’ first note issuance. Aegis acts as the collateral manager of the portfolio in connection with the Series 1 Participating Notes.
An investment manager specialising in ABS, securitisation and related advisory services, Aegis manages and supervises a portfolio of, in aggregate, over €1bn of predominantly mezzanine European ABS and related reference securities. Speechlys previously advised Aegis on the August 2007 Cavendish Square Funding 2 Limited CDO issuance, which followed the successful launch of Cavendish Square Funding plc in 2006.
Speechly Bircham advised Aegis on Cavendish Opportunity Investment’s initial issuance of c.€143.5m of Series 1 Participating Notes financing the acquisition of an intended portfolio of mainly European residential and commercial mortgage-backed securities.
The Programme and the Notes are listed on the Irish Stock Exchange.
Partner Daniel Sullivan (Finance) led the Speechly Bircham team, assisted by partner James Carter (Tax) and Mark Robertson (Finance).
Maples and Calder advised Cavendish Opportunity Investments and Aegis as to Irish law, whose advisory team was led by David Maughan and Ian Mclaughlin.
For more information, please contact: Daniel Sullivan, partner, Speechly Bircham LLP on 020 7427 6488 daniel.sullivan@speechlys.com
Sarah Gerard, business development manager, on 020 7427 6679, sarah.gerard@speechlys.com