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The Royal Bank of Scotland Financial Markets and
Specialist Finance Launch a €500 Million Synthetic CLO
13th October 2003 - The Royal Bank of Scotland (“RBS”)
this week began marketing Skye CLO I Limited (“Skye”),
the second synthetic CLO for RBS Specialist Finance (“RBS
SF”), following the completion of Cairngorm Limited in December
2001.
RBS will enter into a super senior credit default
swap of approximately €300 million, and purchase junior credit
protection from Skye for approximately €200 million. Skye will
then issue six tranches of notes, with anticipated final maturities
of 14 years.
The deal size is expected to total €500 million
and is referenced to senior and mezzanine leveraged loans.
Skye will offer investors access to the leveraged
loan asset class through the use of a credit default swap.
The deal is expected to close in late 2003. There
is currently no indication of likely price talk from RBS.
Appoints Managing Director for
Leveraged Finance in France
24th November 2003 - The Royal Bank of Scotland (RBS) has appointed
Pascal Werner as Managing Director and Head of Leveraged Finance
France.
Pascal will report directly to (Eric Mallaroni and
Euan Hamilton, Heads of Leveraged Finance and to Donald Bryden,
Country Head for France at RBS. In his new role Pascal will focus
on the development of the Leveraged Finance franchise in France.
Pascal joins RBS from Crédit Lyonnais, where
he was Head of Acquisition Finance for over five years, responsible
for the bank’s European operations in Paris, London, Milan,
Frankfurt and Madrid. He has also held senior posts at UI, the private
equity arm of Credit Agricole, Credit Agricole Lazard Financial
Products, Unicredit and Banque Paribas.
Commenting on the appointment, Eric Mallaroni said:
“I am delighted that Pascal has joined us. He is a highly
respected figure in the market and brings with him a wealth of significant
experience and knowledge of the leveraged finance market, which
will be of immense benefit to us as we continue to build on our
successes in France.”
Donald Bryden, Country Head of RBS in France, said:
“We are happy to have Pascal join our Management Committee
in Paris. His experience will add further to our Corporate Banking
and Financial Markets franchise in France.”
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