White & Case advises Deem Finance on US$400 million mixed asset securitisation financing

Global law firm White & Case LLP has advised Gargash Group company Deem Finance LLC (Deem Finance), a UAE-based Central Bank regulated finance company, on an up-to-US$400 million forward flow securitisation with J.P. Morgan as senior lender and Daman Investments as financial advisor.

"This strategic transaction diversifies Deem Finance's funding sources to further grow its core businesses," said White & Case partner Debashis Dey, who led the Firm's deal team. "For the wider GCC market it's another important example of the opportunity that asset-backed funding structures offer for financial institutions, a market which White & Case has spearheaded on-the-ground in the region."

The securitised portfolio will be made up of a variety of asset classes originated in the UAE, ranging from credit cards and personal loans to merchant finance. The transaction will allow Deem Finance to further its goals of accessibility and inclusion by developing deeper partnerships with fintechs to support the ‘un-banked' consumer finance and the micro, small & medium enterprise sector.

The White & Case team which advised on the transaction was led by partner Debashis Dey (Dubai & London) and included local partner Greg Pospodinis (Dubai) and associates Eren Ayanlar and Felix Mueller (both Dubai).

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