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Mandeep Lotay

Partner

Capital markets and financing

Extremely responsive, personable, knowledgeable across multiple jurisdictions, and provided great guidance as to what's market.

IFLR 2021

Profile details

About Mandeep Lotay

Mandeep advises funds, companies and financial institutions on banking and structured finance transactions across the world.

Mandeep has worked in the Dutch market for over 17 years.  He is however an international structurer at heart.  Together with his international team, from Amsterdam he regularly advises clients on financings across multiple jurisdictions and the entire credit spectrum, including, Spain, Greece, Cyprus, Italy as well as the Netherlands and the UK.  His unique experience in both banking and structured finance means that he often leads projects that have both features.  He has a multi-disciplinary skill set, provides an integrated approach and has deep market knowledge across both sectors.

Mandeep started his career in our London office as an English qualified lawyer, and moved to Amsterdam in 2004.  It is this combination of both UK and continental expertise and market knowledge which makes Mandeep stand out.

He is technically sharp, solutions focused and commercial.  His experience together with his hands-on approach means that clients see him as a part of their team and a trusted advisor to their business.

Mandeep has been ranked for several years in Chambers, Legal 500 and the IFLR1000.

He is a native English speaker and speaks Dutch.

Recent work

  • Alantra and Barclays Bank Plc as co-lead arrangers on the securitisation of a c.€2.2 billion portfolio composed mainly of residential non-performing exposures acquired by Oxalis from the National Bank of Cyprus, a fund managed by one of the largest fixed income asset managers PIMCO (Project Hera).  The transaction is the first rated NPL public securitisation executed in Cyprus.
  • A global alternative asset manager in relation to a Greek NPL securitisation to support the acquisition by a syndicate of global asset managers of a portfolio of Greek non-performing secured SME loans from the National Bank of Greece (Project Symbol).

  • RNHB B.V. on its acquisition of a commercial real estate loan portfolio purchased from a fund managed by Syntrus Achmea Real Estate & Finance (Project Trident).  RNHB is a speciality commercial real estate lender based in the Netherlands and is owned by a consortium of global alternative asset managers. This included advising on the auction, fund and asset acquisition, equity structuring, several financings made available by multiple groups of leading international lenders to fund the acquisition, and all regulatory aspects.    
  • WorldRemit, a global digital payment transfers group, in several cross-border acquisition financing arrangements to support its acquisition of US based, SendWave International Remittance, another international digital payments provider, with a presence in the US, UK and Africa.  The project involved the venture and growth divisions of the US West Coast based credit funds as well as a UK based technology speciality lender.

  • A global asset manager on the acquisition, servicing and cross-border financing arrangements in relation to a portfolio of Spanish reperforming mortgage loans acquired from a Spanish financial institution (Project Eume).

  • RNHB B.V. on its acquisition of a commercial real estate loan portfolio purchased from FGH Bank NV, a real estate bank specialising in commercial real estate financing (Project Purple).  This included advising on the auction, corporate acquisition, equity structuring, financing made available by leading international lenders to fund the acquisition and regulatory aspects.  He also advised RNHB on a several refinancings of the acquisition debt, including, a capital markets transaction involving the issuance of listed and rated asset-backed securities.  

  • AEX listed Dutch insurer, NN Group (NN) on various financing arrangements of its c. eur 2.5bn public takeover of the Benelux listed financial institution, Delta Lloyd. This included (a) advising NN on acquisition finance facilities arranged by ING, Citibank, JP Morgan and Morgan Stanley (b) advising NN on the issue of debt under their corporate debt issuance programme arranged by JP Morgan (c) advising NN on the restructuring of their corporate facilities arranged by several global financial institutions, in each case, to support the takeover of Delta Lloyd, on a certain funds basis.

  • A leading alternative investment fund on the acquisition financing of a portfolio of Spanish distressed real estate assets purchased from a Spanish financial institution.  
  • RNHB on the acquisition of a Dutch commercial real estate portfolio from Propertize, a portfolio company of Lonestar, and related acquisition financing under facilities made available by HSBC (Project Dome).  RNHB is owned by a consortium between (a) funds managed by CarVal Investors and (b) Arrow Global Plc.  
  • Morgan Stanley (MS) on the acquisition, financing, sale and capital markets refinancing of a portfolio of Dutch non-conforming residential mortgage loans. MS acquired the loan portfolio from an existing securitisation SPV and refinanced the acquisition through a rated and listed Dutch residential mortgage backed securitisation.
  • Goldman Sachs on their multi-jurisdictional leveraged buy-out of the pan-European bakery group, Continental Bakeries, from NPM Capital and subsequent debt repricing.
  • Endemol Shine Group, a leading scripted and non-scripted production company owned by Apollo and 21st Century Fox, on several of its multi-jurisdictional financings, including, its leveraged financing facilities provided by an international syndicate and the monetisation of various media related revenues.  
  • Commerzbank and Bank of Ireland on underwritten TLB leveraged financing to support the acquisition of the Vermaat Group by Partners Group and subsequent refinancing and debt-repricing.
  • Channel Capital, as arranger, and several non-European banks on a multi-jurisdictional (including, Armenia, PRC, Hong Kong, India and the UAE) trade receivables and inventory securitisation for Rosy Blue, a leading producer of diamonds.
  • Deutsche Bank, Rabobank, ABN AMRO on the refinancing of unitranche facilities supporting a leveraged financing of the acquisition of the SK Fire Safety Group by Apax Partners.
  • The Royal Bank of Scotland (RBS) on the financing of the acquisition by an equity consortium (led by Venn Partners, together with Siem Capital and KKR) of the Dutch residential mortgage origination business of GE Bank Artesia. He also advised RBS on a subsequent rated and listed capital markets refinancing of the initial acquisition debt, and establishment of additional forward flow origination warehouse funding platform.
  • Goldman Sachs on the financing of a newly established Dutch residential mortgage loan forward flow origination platform by Dynamic Credit (Elan).
  • JPMorgan on several Dutch RMBS transactions including regulatory capital relief transactions.

Qualifications

Education

  • Warwick University, England LLB (Hons)
  • Darwin College, Cambridge University, England (LLM)