Portugal

Portuguese securitisation: developments in the last 12 months

Vincent Keaveny (+44 (0)20 7283 6000), Norton Rose

An overview of the market

Over the last 12 months the Portuguese securitisation market has experienced a significant period of development, embracing innovation in relation to new asset classes and legal structures, while existing asset classes have matured rapidly. This article will review four of the most interesting transactions that have closed in that period: Galp Finance, AR Finance, Explorer 2004 and LTR 5. It will also consider some of the developments that are likely to be seen in the next year.