We are independent advisors: our role is to secure the most effective transaction terms for our clients. As such, we have no specific ties with investors, management companies, law firms or back up servicers. We run RFPs to gauge the level of market appetite for each transaction. Depending on the size/complexity of the programme and the rating of the originator, we may involve as few as 5 banks or as many as 50 in our RFPs. We know all the major players in the European market. Specific RFPs may be undertaken to select the most appropriate legal advisor, management company, or back up servicer. Again we know the market players, their strengths and weaknesses, and will provide educated and neutral advice to our clients. Contrary to some of our competitors, we do not sell a platform to our clients: this service is in our view not only unnecessary (defining the borrowing base and reporting are roles which are traditionally shared between the arranging bank and the management company), but also unduly costly over the long run.
Securitisation is a complex funding technique. Most corporate CFOs and treasurers do not have the time necessary to acquire in-depth expertise in the field. Accola brings you this expertise. Its founding partner, Thierry Sebton, established one of the first securitisation teams in Europe in 1990, contributing to the shaping of the laws now governing securitisation and pioneering the securitisation of new asset types (credit card receivables, retail mortgages, inventories) in France and Italy. As an advisory firm, Accola has worked for corporates in many sectors (manufacturing, construction, trading, commodities, etc.) and covered a wide range of asset classes (not only trade receivables, but also equipment lease cash flows, rental cash flows, inventories). We cover all technical aspects of the transaction, including the methodologies followed to define the level of credit enhancement, the computation of model parameters, the pricing of liquidity lines or securitisation notes, the EU Regulations applicable to securitisation. We are agile problem solvers, with strong methodological and project management skills.
We work for a very limited number of clients each year. As such we are completely dedicated to the success of the transactions that we onboard, which ensures swift turnaround times.
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