Slaughter and May, working alongside Sacker & Partners LLP, advised the Trustee of Lloyds TSB Group Pension Trust (No.1) Limited on the securitisation aspects of the disposal of its share of a portfolio of re-securitised US residential mortgage-backed securities for £1.16 billion. In the same transaction, Lloyds Banking Group (the 'Group') sold its share of the portfolio for £3.3 billion. The transaction is part of the Group's continued capital accretive non-core asset reduction.

CONTACTS

Financing: Matthew Tobin (partner), Andrew Chaplin (associate), Ivo Stourton (associate)

Sacker & Partners LLP: Investment: Jonathan Berman (partner); Finance: Vicky Carr (associate director)

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