Clifford Chance: First securitisation in a year

The Romanian capital market will be able to operate its first securitisation transaction in the next 12 months, say representatives of the local office of Clifford Chance, the biggest law firm in the world. Securitisation is the issuing of financial securities for investors on the capital market, which collect income from such securities as they would from a receivable or portfolio of receivables of the issuer. Clifford Chance entered the Romanian market in June this year through its association with the Romanian law firm Badea & Asociatii (Badea & Partners), which mainly operates in real estate, financial-banking, merger and acquisitions as well as private equity fields. “There is a tremendous number of banks or leasing companies that have built significant portfolios of mortgage credit contracts, consumer or leasing credits and we expect to have our first securitisation transaction within the next 12 months,” stated Daniel Badea, managing partner with Badea & Asociatii (Badea & Partners) at a seminar on securitisation organised by Clifford Chance.