Synthetic Securitization Transaction Named Innovative Deal of the Year

Latham & Watkins advised Newmarket Capital on the synthetic securitisation transaction named Innovative Deal of the Year at GlobalCapital’s 2023 European Securitization Awards.

Project Bocarte provides first loss credit protection on a €1.6 billion portfolio of Banco Santander’s project finance loans, of which almost 50% is comprised of renewable energy assets across Spain, the UK, and US. GlobalCapital commended the transaction in particular for its cutting-edge structure, a focus on sustainability, and a commitment to financing the energy transition.

The deal team was led by Paris corporate partner Suzana Sava-Montanari, with London associate Alexia Leckie and Madrid tax partner Ivan Rabanillo. 

The annual awards celebrate the most significant and innovative deals, banks, and market participants in Europe.

The publication also shortlisted Latham for Law Firm of the Year in five categories including ABS, CLO, RMBS, ESG, and NPL in recognition of the firm’s market leading Structured Finance Practice in Europe.