We closed 2025 having completed a series of asset-backed finance transactions, structured around a wide range of underlying assets, from real estate to contingent and deferred receivables.
Across these transactions, our role spanned from advising on the legal structure, to leading or supporting the drafting of the transaction documentation. Each deal required a deep dive into the underlying asset characteristics and constraints, including issues around transferability, confidentiality, operational continuity and realisation pathways, and translating those constraints into a workable contractual and operational framework.
A further key workstream was the financial reporting interface. We worked closely with accountants and auditors to ensure that the legal architecture appropriately reflected the intended risk-and-reward transfer and supported the relevant IFRS analysis (including derecognition considerations), in a way that was consistent with the asset profile and transaction mechanics.
We are seeing increasing appetite from key players such as systemic banks and blue-chip corporates for precisely these kinds of non-standard, asset-specific financing solutions, and we expect this trend to accelerate in 2026.