Inside Amundi's two-programme single-issuer securitisation

Author: Gemma Varriale | Published: 21 Mar 2012

European asset manager Amundi has established a €10 billion (£8.3 billion) English law programme and a €10 billion French law programme for secured structured products through a single Luxembourg securitisation vehicle.

Under each programme, the issuer can from issue notes linked to a range of underlying references that can be listed and passported to other countries in the European Economic Area. But constructing identical structured note programmes under different governing laws presented lawyers with a unique set of challenges.

Hogan Lovells partner Sharon Lewis, who led the English law programme, said...