Mayer Brown Advises on Emerging Market Deal of the Year from Total Securitization
7 October 2008
Mayer Brown represented ABN AMRO Bank N.V., JPMorgan Securities and Standard Chartered Bank in the BTA DPR Finance transaction that was named Emerging Market Deal of the Year for 2007 by Total Securitization and parent company Euromoney. The BTA DPR Finance deal was the largest-ever diversified payments rights securitization in Kazakhstan.
Winners of the fourth annual Global Derivatives & European Securitization Awards were announced at an awards dinner at the Four Seasons Canary Wharf in London on Oct. 6, 2008. Total Securitization is a news service totally dedicated to the global securitization markets – ABS, MBS, CMBS and CDOs.
The BTA DPR Finance deal is noteworthy because it occurred during a tumultuous time in the markets. The deal closed in October 2007, mere months after the market was thrown into turmoil.
The BTA DPR Finance transaction also paved the way for future deals of its kind. Because the DPR structure mitigates the originator’s credit risk as well as currency risk, the transactions are more resistant in times of crisis, which may encourage issuers to choose them in tumultuous conditions to get investors on board, according to Total Securitization.
Mayer Brown partner Jim Patti, who splits his time between the firm’s Chicago and London offices, led the deal team.
The award marked the second consecutive year in which Mayer Brown has been honored at the Global Derivatives and Securitization Awards. Last year, the firm was selected as Securitization Law Firm of the Year 2007 in recognition of groundbreaking work undertaken by the London, Frankfurt and Paris securitization lawyers.