Bernitsas Law advises BNY Mellon Corporate Trustee Services Limited on market first synthetic securitisation

Bernitsas Law advised BNY Mellon Corporate Trustee Services Limited as Trustee on a market-first synthetic asset-backed securitisation of performing SME and corporate loans originated by Piraeus Bank SA. The transaction involved the issue of credit linked notes by an Irish SPV as protection seller, a financial guarantee agreement and financial collateral arrangements over the Irish SPV account.

Allen & Overy acted as English counsel to BNY Mellon Corporate Trustee Services Limited.

Partner Athanasia Tsene led the Bernitsas Law team, assisted by Associate Yannis Potamias.