Marcus Lovatt
PartnerMarcus Lovatt regularly advises originators, issuers, arrangers and investors on a broad range of securitisation and structured investment transactions. His experience includes working on public and private transactions across a range of jurisdictions and asset classes.
His work is centred on the financial services sector but increasingly with a focus on technology. He has advised a number of FinTech clients on transactions with technology at its heart including the issuance of digital assets. Many of the transactions on which Marcus advises also engage other sectors such as real estate, insurance and transport.
Marcus Lovatt regularly advises originators, issuers, arrangers and investors on a broad range of securitisation and structured investment transactions. His experience includes working on public and private transactions across a range of jurisdictions and asset classes. Marcus also advises financial institutions, investment firms and corporates on derivatives, for which he was recognised in Legal 500, UK 2020.
EXPERIENCE
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Advising NatWest Markets Plc, as swap counterparty, in providing a balance guaranteed swap to Tower Bridge Funding 2020-1 plc over its Automated Treasury Solutions platform as part of a £352 million public UK RMBS transaction rated by S&P and Moody's in one of the first UK RMBS transactions to close in light of the Covid-19 pandemic.
- Advising PKO Leasing S.A. (PKOL), the largest leasing company in Poland, on the first Simple, Transparent and Standardised (STS) securitisation transaction in Poland and the largest ever securitisation in the Polish market. The transaction involved the issue by an Irish SPV of c. PLN 2.5 billion (EUR 570,000,000) of asset-backed securities, secured against a revolving pool of leasing receivables originated by PKOL, which were sold on a private placement basis to a small group of international investors. Investors included the European Investment Bank which initially subscribed for PLN 900 million (EUR 208 million) of senior notes and committed to subscribe for PLN 640 million (EUR 148 million) of mezzanine notes under the guarantee provided by the European Fund for Strategic Developments (EFSI), the financial pillar of the Investment Plan for Europe (the Juncker Plan). Both the senior and mezzanine notes were assigned public ratings by ARC and Scope. The transaction contributed to improving access to finance for Poland's micro-enterprises, SMEs and Mid-Caps across all the economy sectors.
- Advising Lendable Operations Limited, the digital lending platform Lendable on the launch of its first Luxembourg fund and the establishment of a warehouse financing structure with Credit Suisse providing up to GBP 225 million of senior funding and the Luxembourg fund providing up to GBP 125 million of junior funding. The fund raised capital from 10 investors across seven geographies for a three-year investment period and will primarily invest in Lendable originated consumer loans. The warehouse financing structure involved the issue by an Irish SPV of listed senior and junior loan notes, secured against a revolving portfolio of UK consumer loans.
- Advising a UK financial institution, as senior funder, on a EUR 400 million securitisation of factoring, reverse factoring and SME loans, originated by a Spanish FinTech platform.
- Advising Santander Consumer Bank S.A., as originator on the first international auto securitisation to be launched out of Poland. It was also the first Polish securitisation to be awarded the PCS label. The transaction involved the issuance by an Irish SPV of 2 classes of notes backed by a static portfolio of receivables arising from auto and consumer loans made to borrowers in Poland. Citigroup and Santander GBM arranged the deal with Bank Handlowy and Bank Zachodni as co-managers
- Advising a US-based asset manager, on its provision via an Irish SPV of a GBP 100,000,000 litigation receivables financing facility to a UK based litigation funder.
- Advising Frontera Capital Group Limited, as arranger, on over 50 series of credit linked notes issued by Dutch SPVs providing credit exposure to sovereigns and corporates in emerging markets such as Azerbaijan, Paraguay, Malawi, Kyrgyzstan, Uzbekistan, Zimbabwe, Tajikistan, Gambia, Georgia, Nicaragua and Tanzania.
- Advising a state owned financial institution on Brexit-proofing certain of its existing derivatives arrangements with three global investment banks.
- Advising The Royal Foundation on a wildlife conservation bond aimed at promoting the growth of the rhino population in selected sites across Africa.
- English
- University of Nottingham, BA Hons, 2007
- Nottingham Law School, GDL, 2008
- The College of Law, London, LPC, 2009
Awards
Marcus has been recognised in Legal 500 for Derivatives: "At senior associate level Marcus Lovatt is a steady pair of hands and is unflappable.” Legal 500, UK 2020
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