Slaughter and May advised Blue Motor Finance on its latest £263,100,000 “Azure” public auto loan securitisation

Slaughter and May, acting as transaction and drafting counsel, advised Blue Motor Finance (Blue) in relation to an issuance by Azure Finance No.3 plc (the Issuer) of £263,100,000 of floating rate asset backed Sterling notes (the Notes) and residual certificates (the Residual Certificates).

The Notes and Residual Certificates are backed by a portfolio of auto hire purchase agreements originated by Blue. Blue acts as servicer under the securitisation.

The securitisation has been verified as fulfilling the criteria for it to be treated as “Simple, Transparent and Standardised” in the UK.

The Notes are listed on Euronext Dublin, and comprise £181,400,000 Class A Notes, £27,100,000 Class B Notes, £18,400,000 Class C Notes, £9,200,000 Class D Notes, £6,100,000 Class E Notes, £3,700,000 Class F Notes) and £17,200,000 Class X Notes, all of which are rated by DBRS and Moodys. The Residual Certificates are unlisted and unrated.

Gareth Miles Partner
Alex Sim Associate
Financial Regulation
Kristina Locmele Senior Counsel
Heather Broadbent Associate