Lovells steers Ford Credit loan issue

Lovells was able to involve its own German and Dutch arms for the first time on this latest in a series of securitisations for long-standing client Ford Credit.
The loans were originated by Ford Bank, the German branch of Ford Motor Company subsidiary FCE Bank.
Capital markets partner David Harris and senior lawyer Simon Schiff led the team from London. Capital markets partner Oliver Kessler and tax partner Joerg Siegels advised in Germany, while corporate partner Gerrit-Jan Bolderman, assisted by Tanya Gorissen, advised on Dutch law.
The issue was jointly lead-managed by ABN Amro, Deutsche Bank and Westdeutsche Landesbank Giro-zentrale, advised by Linklaters Frankfurt partner Kurt Dittrich.
As part of the arrangements, Lovells also advised on the renewal of the Globaldrive Programme, a $5bn (£3.5bn) asset-backed note programme designed to securitise receivables originated by FCE Bank and other Ford Credit operations worldwide.