Leading firms drive $1bn securitisation deal to completion

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Six leading firms have advised in the $1bn securitisation deal for Custom Fleet.

Ashurst acted for Custom Fleet on its new multi-series master trust securitisation of vehicle and equipment fleet leases. Custom Fleet is a part of Element Fleet Management Corporation, a leading fleet-leasing company in Australia and New Zealand.

Global markets partner Jennifer Schlosser led the Ashurst team, which included financial regulation partner Philip Trinca, tax partners Ian Kellock and Barbara Phair, and corporate transactions partner Nigel Deed.

KWM, with a team led by partner Paul Smith, acted for Bank of America Merrill Lynch, Westpac, and JPMorgan as senior financiers.

KWM also acted for certain swap counterparties. Another swap counterparty was advised by MinterEllison.

Clayton Utz acted for the deal’s mezzanine financiers. The firm’s team was led by partner Andrew Jinks.

Norton Rose Fulbright acted for Perpetual, which was the securitisation’s trustee. Blakes Canada provided Canadian law advice.


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