Deals | France – Securitisation

Gide Loyrette Nouel (‘Gide’) acted as counsel to Amundi, Europe’s leading asset manager, on the creation of the Amundi Loans Fund securitisation mutual fund and its first MidCap 2013 sub-fund.

In partnership with the Luxembourg law firm Arendt & Medernach, Gide also advised on the issue of the first tranche of asset-backed bonds worth EUR 475 million, and listed on the Luxembourg Stock Exchange. The bonds were issued by Luxembourg securitisation company LRP and its January 2013 LRP sub-fund.

This January 2013 LRP sub-fund is dedicated to the acquisition of shares issued by the Amundi Loans Fund sub-fund MidCap 2013, whose assets are composed of loans or debt obligations issued by small and mid-cap companies.

The bonds issued by the January 2013 LRP sub-fund were fully subscribed by insurance companies.

Gide’s advice included using a dual structure combining a French-law securitisation mutual fund and a Luxembourg-based securitisation company.

Amundi was advised by Gide Loyrette Nouel, with a team comprising partners Xavier de Kergommeaux and Christine Van Gallebaert, and associates Frédéric Daul and David Aumain, and by Arendt & Medernach, with a team comprising partner Matthieu Taillandier and associate Sara Gerling.