Bernitsas Law's role in Project Zeus PPC Securitisation, a landmark securitisation transaction, has been recognised by the GlobalCapital Securitisation Awards, which recognise outstanding achievements in European structured finance.
The deal has won the Private Securitisation Deal of the Year Award. Bernitsas Law advised PIMCO (as manager of PIMCO funds that invested in securitisation notes) in connection with the securitisation of PPC receivables (Zeus portfolio) under electricity invoices in arrears for more than 90 days. The transaction involved senior notes held by PIMCO, Carval and Deutsche Bank, a junior note held by PPC and servicing and sub-servicing arrangements for the portfolio.
GlobalCapital is the foremost information source of the international capital markets. The Awards are a result of a comprehensive process of market research including an online poll and pitches.