Stuart Axford focuses on large and highly complex securitization and structured credit transactions, advising a number of leading investment banks, funds, and investors on securitizations across a wide range of asset classes.

His practice includes RMBS, CMBS, auto loans, trade receivables, supply chain finance, whole business securitizations, and CLOs. He also has wide experience in the area of structured credits and derivatives such as credit default swaps and repos.

He spent five years practicing in Frankfurt, during which time he advised numerous German banks on the structuring and establishment of their ABCP programs. During the credit crisis, he advised central banks on the establishment and utilization of special liquidity schemes enabling financial institutions to exchange illiquid assets for those more easily tradable. He also advised on the restructuring of a number of SIVs and ABCP programs and on many "jumbo" structured repo transactions facilitating bank liquidity.

Mr. Axford advised the issuer in relation to the first non-prime European commercial real estate securitization since the 2008 financial crisis, and recently advised on the establishment of two new UK residential mortgage lending platforms.

Experience

  • The Mortgage Lender on its £250 million warehouse financing for the establishment of their new mortgage lending platform.
  • Capita on its role in relation to the London Wall securitization framework, the investment vehicle for funding mortgages originated by Fleet mortgages, a new UK mortgage lending business.
  • Debussy DTC PLC as Issuer in relation to the 2013 £263 million CMBS issuance, which refinanced the Toys 'R' Us UK commercial property portfolio, the first non-prime European commercial real estate securitization transaction since the 2008 financial crisis.
  • A number of financial institutions on their participation on supply chain finance securitizations through the prime revenue program.
  • PrimeXtend, a start-up prime services provider, on its prime brokerage documents with a major international bank and on the customer facing documentation for its prime services business.

Perspectives

Brexit—What We Know
Structured Finance Alert: Proposed Changes to EU Requirements for Securitisations
Finance Alert: European Commission Releases Proposals on Securitization
Compliance Alert: strategische Fragestellungen für den künftigen Wertpapiervertrieb
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Recognition

Chambers UK
Capital Markets: Securitization (London) (2009-2017)
Chambers Global
Capital Markets: Structured Finance, Securitization & Derivatives (UK) (2009-2017)
The Legal 500 UK
Finance: Securitization (London) (2002-2016)
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Credentials

Education
  • Solicitors’ Final Examinations, College of Law, Chancery Lane
  • 1990, University of Cambridge
Admissions
  • England and Wales
Overview

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