Structured Finance
Jersey is one of the world’s leading centres for the establishment of structured finance vehicles, including vehicles for repackaging programmes, other securitisations, capital market debt and hybrid capital issues and other forms of securities issues. Volaw has been involved in establishing and administering a significant number of finance vehicles that have been involved in a range of transactions, including:
- the first transaction through a Jersey vehicle requiring a credit rating from Standard & Poor's
- the first repackaging through a Jersey SPV of German Post Office bonds
- the first Islamic securitisation of US commercial property leasehold interests
- several issues of Tier 1 capital by commercial banks
- a securitisation of trade receivables by a regional electricity company.
We pride ourselves on our innovative approach. Examples include the unique structures established to minimise US taxes on the real estate vehicles for Islamic investors. We have established a specialist team that is dedicated to looking after the affairs of structured finance vehicles under our administration. Our information technology systems allow us to maintain up to date and accurate statutory and accounting records of these vehicles in an efficient manner and to prepare reports on a regular or ad hoc basis. Our services in this area include:
- providing directors and officers
- organising the issue of securities
- maintaining the statutory records and registers
- filing statutory returns with the JFSC
- keeping proper accounting records
- preparing annual or other regular financial statements
- organising the audit of the financial statements
- preparing and distributing regular reports to investors
- providing a trustee of any trust owning the vehicle.
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