STRUCTURING A SECURITISATION
a securitisation…
transaction involves a limited number of tradable and/or non-tradable assets that are either bought by a Compartment or transferred by a transferor to the Compartment. This means that a Securitisation is a transaction in which a Securitisation Vehicle, acting on behalf of a specific Compartment, acquires risks associated with certain claims or assets and finances this by issuing securities (such as bonds, notes, shares, profit participation rights etc.) whose returns are linked to those risks.
The Compartment then issues corresponding securities, which are priced based on the value of the underlying assets and the payments and income received (such as interest, dividends, rents and charter rates).
Analysis of customer needs
At securities.lu, we believe in analysing the individual needs of our institutional clients, and together with our clients, we analyse the individual parameters of the Securitisation, as well as the timing of the transaction. Based on this analysis, we take over the documentation, creation and establishment of the Compartment.
We also have the necessary and organisational prerequisites to carry out all the needed administration and calculation services.
Vehicle Structure
Compartments are ring-fenced structures with no legal personality under a Securitisation Platform set up under the Luxembourg Securitisation Law.
They can issue a variety of securities and can be set up as fully clearable or in a registered form.
Compartments issued by a Securitisation Platform and administered by a Service Company are designed for (semi-)institutional investors and therefore do not require approval from the Luxembourg Financial Markets Authority (Commission de Surveillance du Secteur Financier (“CSSF“)). Approval would only be required if securities are issued to the public on a continuous basis.