Hogan Lovells advises RCI Financial Services Limited in respect of its GBP1.6 billion securitisation programme

Press releases | 15 October 2021

Hogan Lovells has advised RCI Financial Services Limited as transaction counsel in respect of its GBP1.6 billion revolving master programme backed by a portfolio of personal contract purchase (PCP) and hire purchase (HP) loans originated in the UK by RCI Financial Services Limited.

The transaction was arranged by HSBC Bank plc.

The GBP 750,000,000.00 Series 2021-1 Class A Notes issued by Cars Alliance UK Master Plc were listed on Euronext Dublin and rated AAAsf by Fitch and AAA(sf) by S&P, and were fully retained by RCI Bank UK Limited.

Commenting on the transaction, Sharon Lewis said:

"We were delighted to accompany RCI in its inaugural master (or public) programme in the UK".

The Hogan Lovells team was led by the Global Head of Financial Institutions and Insurance Sector Sharon Lewis, assisted by David Palmer (Counsel) and Ailsa Davies (Senior Associate); Elliot Weston (Partner), Emily McCarthy (Counsel) and Adam Kania (Associate) advised on the Tax aspects; Julie Patient (Counsel) and Nikki Ogun (Associate) advised on the regulatory aspects.