CMS Bureau Francis Lefebvre was advisor to BNP Paribas for the structuring and establishment of the securitisation mutual fund FCT LAFFITTE 2016. This fund was created at the initiative of France Titrisation, as management company, and BNP Paribas, as custodian.
At the time of its creation on 24 May 2016, FCT LAFFITTE 2016 issued €2,590,000,000 of class A bonds, €410,000,000 of class B bonds and €10,000 in residual units. The class A bonds are AAAsf rated by Fitch France S.A.S. and Aaa(sf) by Moody's Investors Service Ltd and are listed for trading on the Luxembourg Stock Exchange. The proceeds from the bonds enabled FCT LAFFITTE 2016 to acquire a portfolio of consumer credit granted by the French retail banking arm of BNP Paribas to its private customers.
The CMS Bureau Francis Lefebvre team which advised BNP Paribas comprised Grégory Benteux (partner, securitisation and structured debt team), Héloïse Roudaut, Katalin Zakhar and Philippe Desvignes (associates).
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