Ogier's Irish Structured Finance team advises on €651.8 million Spanish RMBS securitisation

Ogier's Structured Finance team in Ireland has advised funds managed by One William Street Capital Management, L.P. on the €651.8 million Lugo Funding DAC Spanish RMBS securitisation.

The securitisation is a static RMBS transaction that securitises a portfolio of over 7,700 primarily first-ranking loans secured against properties in Spain. The securitisation notes were rated by S&P and KBRA and were listed on the regulated market of Euronext Dublin. 
 
Ogier acted as Irish legal counsel to the issuer, the seller and the retention holder, and as Irish listing agent in connection with the Central Bank of Ireland's approval of the prospectus and the listing of the notes. Ogier Global, our corporate and fiduciary services branch, acted as the Irish corporate services provider to the seller.
 
Richard Kelly, partner and head of Structured Finance at Ogier in Ireland, led on the transaction and said; "We are delighted to have assisted One William Street with this significant RMBS transaction. This landmark deal showcases Ogier's expertise in handling complex, multi-jurisdictional securitisation transactions and highlights our ability to provide clients with seamless Irish legal and fiduciary expertise."
 
Alongside Richard Kelly, the Structured Finance team included managing associate Eoin Hamill, senior associate Laura Blaney and trainee solicitor Lisa Quigley. The Ogier Global team was led by managing director Michael Carroll, head of Debt Capital Markets, and associate director Karina McGrath.