Australia's leading independent law firm, Corrs Chambers Westgarth, is advising the Arrangers, Joint Lead Managers and Dealers on the simultaneous securitisation funding of Blackstone's purchase of HSBC's A$36 billion home loan portfolio.
Blackstone, the world's largest alternative asset manager, is sponsoring the purchase as HSBC exits retail banking in Australia. The transaction is Australia's largest loan portfolio sale and securitisation to date and is reportedly the largest home loan portfolio sale globally.
The transaction is being led by banking and finance partner Matthew Kaminsky and senior associates Andrew Chong and Jenny Guo, and supported by tax partners Cameron Blackwood and Simon Mifsud and a range of experts across the firm's banking and finance, tax, financial services and funds, regulatory and litigation practices.
Commenting on the matter, Matthew Kaminsky said: "We are thrilled to advise our clients on this landmark transaction – positioning the Arrangers, Joint Lead Managers and Dealers at the forefront of large‑scale Australian portfolio transactions and reinforcing their established credentials in the securitisation market.
"The transaction further strengthens Corrs' reputation as a trusted adviser on complex, high-value loan portfolio sales in the securitisation sector, and underscores the depth of the firm's recently expanded structured finance team."