Equity Release Funding (No.3) PLC - Securitisation
On 27 June, 2003 Equity Release Funding (No.3) PLC issued £462
million Mortgage Backed Notes securitising a portfolio of equity
release mortgages originated by Norwich Union Equity Release Limited.
The deal was arranged by Citigroup.
Slaughter and May act for the issuer and Norwich Union (Aviva plc).
Stephen Powell (partner), Anna Lawry (associate); Specialist advice:
Commercial Real Estate: Dermot Rice (partner), Sarah Wilson (associate);
Tax: Graham Airs (partner), Alisa Greda (associate)
Citigroup were advised by Freshfields (Marcus Mackenzie).
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