Jurisdiction(s):
United Kingdom

Key definition

Securitisation definition

What does Securitisation mean? Securitisation is a financing technique that converts non‑tradable, income‑producing assets into tradable securities by pooling exposures and issuing notes backed by their cash flows. In practice, an originator sells receivables (for example, mortgages, consumer loans or trade receivables) to a bankruptcy‑remote special purpose vehicle (SPV/SSPE), which issues asset‑backed securities, usually in tranches (senior, mezzanine and junior). Alternatively, in a synthetic securitisation the credit risk is transferred by credit protection while assets remain on the originator’s balance sheet. Key legal features include: achieving a true sale or effective risk transfer; perfection/notification of assignments (assignation in Scotland); security and trust arrangements; servicing...

Sustainable securitisation: asset classes, legal structuring and regulatory landscape for green CLOs, ABS and MBS

Published by a LexisNexis Banking & Finance expert

Practice notes

The sustainable finance market has seen explosive growth in select product segments over the past five years. Annual green bond issuance, for instance, topped US$500bn in 2021, and environmental resilience is becoming an increasingly significant driver of investment choices worldwide. Yet the Organisation for Economic Co-operation and Development (OECD) estimates that US$6.9tn a year will be needed through 2050 to fund Infrastructure that achieves development goals and delivers a low-carbon, climate-resilient future. If nothing changes, current market finance will fall far short in both scale and approach.

One clear but transformative answer is to pool and amplify sustainable assets via sustainable Securitisation. For this to be workable, a critical pipeline of sustainable finance assets across multiple classes must be available in the market. Sustainable securitisation can concurrently offer institutional investors access to sustainable assets while easing pressure on bank balance sheets. At present, most infrastructure schemes depend on bank loans, yet alternative funding sources are essential because the US$90tn needed for global sustainable infrastructure cannot be provided by banks alone. Further, many sustainable investments...

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Mindy Hauman

White & Case

Mindy Hauman is professional support counsel in White & Case's Capital Markets Practice in London. Mindy has extensive experience handling international securities and structured finance deals for both arrangers and issuers, including emerging markets sovereign issues, regulatory/hybrid capital issues and advising clients on a wide range of capital market and derivatives products. Mindy's core focus is on sustainable finance products and product knowledge solutions. Mindy is involved in a variety of industry groups and has advised on a number of sustainable finance transactions and structures. Mindy has authored and edited a substantial number of publications related to sustainability and is an experienced media commentator and public speaker. Mindy co-authored the UNEP/G20 White Paper on Building a Sustainable Infrastructure Securitisation Market and also advised the Bank of England as chair of the G20 Green Finance Study Group on green bond terms....

Chris McGarry

White & Case

Chris McGarry advises arrangers, sponsors, issuers and investors on securitisations including collateralised loan obligations, all types of consumer asset-backed securities, residential mortgage-backed securities, trade receivables and esoteric assets classes such as commodities, telco receivables, tax receivables and whole-business securitisations. His practice covers both developed markets and emerging markets....

Debashis Dey

White & Case

Widely recognised as one of the Middle East's leading capital markets lawyers, Debashis helps White & Case's domestic and international clients to execute a spectrum of complex transactions. His extensive track record, which spans more than 20 years, includes advising investment banks, corporates and governments on capital markets, securitisation and structured finance matters, including Islamic finance sukuk transactions, regulatory capital transactions, commercial and residential mortgages and consumer finance. Noted for the pioneering dimension to his work, Debashis has led numerous product innovations in both conventional and Islamic finance, including the first covered bond in the US, the first convertible sukuk structure for Aldar PJSC, 'first-time' securitisations in Europe and the Middle East, and convertible and straight debt issues for corporates in the Reg S and Rule 144A markets. A partner in White & Case's Global Capital Markets Practice, Debashis also offers clients the benefit of his...

Web page updated on 22/05/2026

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