STRUCTURING A SECURITISATION

A securitisation transaction is a limited number of tradable and / or non-tradable assets that are transferred by a transferor to a dedicated securitisation vehicle, respectively a compartment. In return, the compartment issues the corresponding security (in the form of shares, bonds, loans or profit participation rights).

The value of the security is determined solely by the underlying assets and the payments and income received (such as interest, dividends, rent, charter rates, etc.) that the asset deposited owes the compartment.

The individual requests of our institutional clients serve as a profound basis for our cooperation. Together with our clients, we analyse the key terms and conditions of the securitisation and the timing of the transaction. Based on these agreements, we take over the creation and establishment of the compartment.

In addition, we have the necessary and organisational prerequisites to perform the entire administration services.

Compartments are ringfenced structures with no legal personality under a securitisation platform setup under the Luxembourg Securitisation Law.

Compartments can issue a variety of securities and could be setup as fully clearable or in a registered form.

Compartments issued by Praetorian Assets S.à r.l. and administered by MTCM Securities SA are for (semi-) institutional investors, and therefore do not require approval from the Luxembourg Financial Markets Authority (Commission de Surveillance du Secteur Financier („CSSF“)). An approval would only be required if securities are issued to the public on a continuous basis.