London—Dentons' pan-European securitisation team has been recognised for its role in the IFLR Europe Awards 2020 Structured Finance & Securitisation Deal of the Year. The winning transaction was Stenn's novel, credit-wrapped trade finance securitisation, on which Dentons' UK and other European offices advised.

This follows the win of Debt Securitization Issuer of the Year at the GlobalCapital European Securitization Awards 2020, awarded to Be-Spoke Capital, regarding the Alhambra securitisation of a portfolio of 52 non-investment grade senior unsecured Spanish SME loans on which Dentons' UK and Spanish teams advised.

Edward Hickman, UK partner at Dentons who led on the Stenn securitisation, said, "These awards are testament to the continued success of our international securitisation practice. Dentons is unique in employing over 10,000 lawyers in 183 offices across 75 countries, meaning that we can support clients across the globe. The Stenn trade finance securitisation showcased this international network – Stenn works with companies in 178 countries, and our offices gave advice on key jurisdictions relevant to the securitisation."

Other examples of Dentons' recent European securitisation transactions include advising on:

• Various pan-European trade receivables securitisations, both public (eg acting for a rating agency on Gedesco Trade Receivables 2020-1) and for various ABCP programmes, including Silver Tower, Arabella, Corelux, Weinberg.
• Documenting trade receivables securitisations to satisfy STS criteria, for several ABCP programmes.
• STS term securitisations, including the Rosenkavalier transaction for Unicredit Bank with a total volume of EUR 11bn.
• Teva Pharmaceutials' global trade receivables securitisation programme, involving legal due diligence in a large number of jurisdictions.
• European NPL trades, their warehouse financing and their securitisation (including Ireland, Spain, Greece, CEEC).
• Rule 144A issuances, including Atom Bank's £508 million RMBS.

Dentons also won National Law Firm of the Year for Hungary at the IFLR Europe Awards 2020.

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