Luxembourg Securitisation Vehicle for Specialty Finance Transactions

Kingsbury & Partners is a UAE- and Luxembourg-based specialty finance, asset based lending and debt purchase specialist. It lends to growth-stage fintechs and alternative lenders across the United States, United Kingdom, Europe and GCC, providing facilities between £5-£25M. 

Kingsbury & Partners came to Structada with a requirement to establish a vehicle to house its lending activity to its various clients. It invests in fintech and alternative lender clients, and it needed an efficient, low-cost way to issue a separate compartment for each of those investments. It also needed a structure that would let it syndicate investors from the Middle East, Europe and Asia into each one. To ease the issuance process and provide investors with a familiar format, we established a Luxembourg securitisation vehicle.

Structada established Kingsbury Securitisation Platform SARL, an unregulated Luxembourg securitisation vehicle under the Luxembourg Securitisation Law of 22 March 2004, as amended. Each investment sits in its own bankruptcy-remote compartment, so the vehicle can take on new transactions and without any deal touching another. We drafted the base Private Placement Memorandum (PPM) that governs every issuance on the platform, so each new compartment needs only its own final terms. We also secured the counterparties and appointed the statutory auditor, giving investors a fully constituted platform and a familiar set of service providers from the first note. K&P now has a structure it can use for each new client, whatever the size of the line.