Peel Holdings plc subsidiary The Trafford Centre Ltd has raised £610m from securitisation of the rental income of the Trafford Centre near Manchester, one of the largest retail and leisure facilities in the UK.
Travers Smith Braithwaite and Berwin Leighton acted as joint legal advisors to The Trafford Centre Ltd on the issue, which saw the first securitisation of a shopping centre by a property company in this country.
Banking and finance partner James Richards led the Travers Smith Braithwaite team, primarily assisted by Paul Lyons. Richard Stratton, assisted by Anne Powell, provided the tax advice.
The Berwin Leighton team was led by Malcolm Brummer with support from property partner Claire Milton and assistant Kim Brown. Barry Jeeps of Stephenson Harwood and Richard Cochrane of Addleshaw Booth & Co contributed on planning and construction matters respectively.
Allen & Overy advised the lead managers to the issue – Deutsche Bank AG London and The Royal Bank of Scotland plc with a team led by Conor Downey.
PLS News 6/3/00
