White & Case advises EIF on synthetic securitisation of Deutsche Bank-originated German consumer loan portfolio

Global law firm White & Case LLP has advised the European Investment Fund (EIF) on a synthetic 'Simple, Transparent and Standardised' (STS) securitisation of German consumer loans originated by Deutsche Bank AG.

"This is the second recent STS synthetic securitisation on which we have advised our client EIF involving a portfolio of consumer loans originated by Deutsche Bank," said White & Case partner Dennis Heuer, who co-led the Firm's deal team.

The EIF guarantee on the €150 million mezzanine tranche covers a large reference portfolio of consumer loans. A counter guarantee (back-to-back) from the European Investment Bank (EIB) mirrors the EIF's obligation, so that the EIB covers the credit risk related to the mezzanine tranche.

The White & Case team which advised on the transaction included partners Dennis Heuer (Frankfurt), Ingrid York (London) and Arnaud Cagi-Nicolau (Luxembourg), local partner Claire-Marie Mallad (Frankfurt) and associates Reetu Vishwakarma (Frankfurt) and Konstantinos Strakas (Luxembourg).

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