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Andrew Vickery

Finance Partner, London

“I have a diverse practice focusing on structured finance and real estate finance, with particular expertise in mortgage-backed securitisation transactions, loan portfolio trading and covered bonds. I provide clients with pragmatic solutions, addressing the core issues of each deal.”

Overview

Professional experience

Education and qualifications

Overview

Andy is a partner in the Structured Finance Group and is the Group Leader. He is a specialist in structured finance and real estate finance.

He has extensive experience in whole business securitisations, synthetic securitisations, warehouse financings, loan portfolio sales/acquisitions, sale-leasebacks and credit tenant leases and single property and property portfolio financings. Andy also leads the firm’s practices in Residential Mortgage-Backed Securities (RMBS) and Commercial Mortgage-Backed Securities (CMBS) transactions in the UK, Europe and further afield.

Andy regularly acts for the issuers and arrangers on covered bond programmes throughout the world, including those for RBS, Nationwide Building Society and Leeds Building Society in the UK, DnB Bank, the Sparebank 1 Alliance and SR Bank in Norway, OP Mortgage Bank in Finland, Alpha Bank in Greece, the NAB in Australia, BNZ in New Zealand and DBS and UOB in Singapore. He also leads on a number of key client relationships and is one of the firm’s bank sector leaders.

Work highlights

Andy has worked on some of the most complex and innovative transactions in the market. These include advising:

  • DBS and UOB on the establishment of their covered bond programmes, the first Singapore covered bond programmes
  • HSBC, RBS and Barclays Capital as arrangers of the whole business securitisation of Electricity North West, the first securitisation of an electricity distribution network operator
  • BofAML, Citi, Deutsche Bank and HSBC on the £2.34bn Hawksmoor Mortgages 2016-1 RMBS, a market opening UK transaction in the wake of the “Brexit” referendum
  • the arrangers and dealers on the establishment of DnB Boligkreditt’s US$12bn Norwegian Covered Bond Programme and all subsequent trades thereunder. This was the first Scandinavian 144A covered bond programme
  • the arrangers and dealers on Nationwide Building Society’s Silverstone RMBS Programme, including a host of Reg S and Rule 144A drawdowns, periodic updates and liability management exercises
  •  AnaCap on the €325m high yield bond issue by AnaCap Financial Europe S.A. 
  • Redevco on its debut CMBS transaction, which was secured over the majority of its UK real estate portfolio
  • Cerberus on its acquisition of debt secured on the Maxim Office Park in Scotland
  • Macquarie Bank on its acquisition of a number of UK residential mortgage portfolios
  • Essar Oil UK on its trade receivables Asset-Backed Commercial Paper-Funded securitisation (ABCP)

Professional experience

Andy is named as a ‘leading individual’ in securitisation in Chambers & Partners, the Legal 500 and a ‘leading lawyer’ in securitisation in IFLR1000.

Andy is a regular speaker at the Global ABS Conference in Barcelona, where he has spoken on a range of industry topics including the “Future of CMBS” and “RMBS Post-Issuance Surveillance”.

He represents the firm at the European Covered Bond Council (ECBC) and was an adviser on the establishment of the ECBC’s Covered Bond Label, the industry’s kite mark of quality. He also advised on Bilkreditt 3, the first transaction to attract the Prime Collateralised Securities (PCS) label, which is the equivalent kite mark for the European securitisation industry.

Education and qualifications

Andy studied arts and law at Griffith University, Queensland, Australia.