Frankfurt am Main, 10 September 2013.  Allen & Overy LLP has advised Deutsche Bank AG and J.P. Morgan as arrangers and lead managers on the refinancing of the Quokka Finance p.l.c. securitisation by a new CMBS (Monnet Finance Ltd.) in the amount of EUR 406.1 million. 

With this transaction, the volume of European CMBS transactions entered into this year has increased to approximately EUR 5.5 billion.

The major part of the new securitisation serves to refinance the matured Quokka Finance CMBS and is secured by a portfolio of German multi-family residential property controlled by BGP Investments S.À R.L, Luxembourg; in addition and subject to certain conditions, it may be used to refinance the Minotaur  real estate portfolio.  The issue is split into four classes of notes.  The senior class bears interest at a rate of Euribor plus 1.92%.  The notes have a term of 8 years, maturing in 2021.

Allen & Overy has advised Deutsche Bank AG and J.P. Morgan across all aspects of the financing and securitisation, from the structuring of the transaction, negotiating the loan and CMBS documentation, through to the execution of the new facility agreement and the issue of the Notes.

The Allen & Overy-Team was led by partner Matt Howard (capital markets/securitisation) and included partners Mark Manson-Bahr, Dr. Olaf Meisen (both finance), Dr. Asmus Mihm (tax, all Frankfurt), Pierre Schleimer (finance, Luxembourg), counsel Stefan Kuhm (finance), Dr. Stefan Henkelmann (capital markets/securitisation, all Frankfurt) and Benedicte Kurth (finance, Luxembourg), senior associates Stuart Gregory, Jens Nollmann (both capital markets/securitisation) and Karen Zöttl (finance), and the associates Magdalena Filipkowski, Christopher Jahnke, Isabel Tinsley (all finance), Danister de Silva, Bella Ward (both capital markets/securitisation) and Andreas Fertig (tax, all Frankfurt).

Another Allen & Overy team amongst Martin Scharnke (Counsel, Frankfurt) supported by Niketa Sharma (Associate, London) has advised the Borrower Security Trustee (Bank of New York Mellon) while Luke Lewis (Senior Associate, London) has advised the Note Trustee and Issuer Security Trustee (Deutsche TRUSTEE COMPANY LIMITED).