Deal announcements

15 November 2024: TMF Group closed a successful deal for a Brazilian telecommunications company

TMF Group’s capital markets team is pleased to announce the successful closure of a significant deal involving a Brazilian telecommunications company.

Several global and local Brazilian law firms were involved in this complex transaction, ensuring compliance with all legal and regulatory requirements.

The deal centres around the issuance of New Priority Secured Notes worth US$600.95 million and Roll-Up Notes worth a total of US$1.3 billion by the Brazilian telecommunications company as part of its judicial reorganisation plan under Brazilian Bankruptcy Law No. 11,101/2005. The plan was approved by the 7th Business Court of the Judicial District of the Capital of the State of Rio de Janeiro (the “RJ Court”).

TMF Group played a critical role in this process, providing collateral agent and account administrator services. Our responsibilities include managing and safeguarding the collateral which consists of various assets such as capital stock, real estate properties, receivables and other significant assets.

TMF Group's expertise and comprehensive services will facilitate the smooth execution of this deal, further strengthening our position as a trusted partner in the capital markets sector.

31 October 2024: TMF Group to provide securitisation services for a mortgage lender company

TMF Group’s capital markets team is pleased to announce its appointment as cash manager, security trustee, facility agent and registrar for a EUR300 million lending facility granted by a leading European investment bank. This arrangement is structured as a securitisation in compliance with both EU and UK securitisation regulations.

The facility is designed to support a digital mortgage lender company that provides residential mortgage services in Ireland. As the transaction requires a facility agent, our London-based loan agency team will support the deal using Loan IQ. Through these facilities, TMF Group is well-equipped to manage the complexities of this securitisation.

This appointment shows TMF Group’s commitment to excellence in capital markets and its robust capability in servicing high-profile securitisation deals.

30 September 2024: TMF Group's global capital markets team will provide Islamic finance services for a landmark deal in Qatar

TMF Group's global capital markets team has been entrusted with providing Sukuk issuance services to Estithmar Holding, a Qatari Group operating globally in a number of sectors including healthcare, services, tourism, real estate and specialised construction. Valued at QAR3.4 billion (approximately USD934 million), this groundbreaking deal involves the issuance of Sukuk securities, originating in and serviced entirely within Qatar.

TMF Group will offer comprehensive services as the issuer’s Special Purpose Vehicle (SPV), including share and owner trustee services, as well as the provision of independent directors.

This pivotal role highlights TMF Group's capabilities in supporting landmark Islamic finance transactions.

31 July 2024: TMF Group to provide voting trustee services for a leading US bank

The TMF Group capital markets team has entered into an agreement to provide voting trustee services for a leading US bank with over US$2 trillion in assets.

To ensure comprehensive support and compliance, this strategic deal will involve a collaboration with a global investment management firm and a major US law firm. As a voting trustee, TMF Group enables banks to vote at shareholder meetings via a voting consultant.

This partnership highlights TMF Group’s commitment to maintaining independence, assisting our clients with their regulatory compliance needs and ensuring that voting rights are exercised in accordance with an agreed upon framework.

Our expertise in managing complex voting trustee arrangements enables our clients to confidently navigate intricate regulatory requirements.

27 June 2024: TMF Group's global capital markets team is providing a full range of services for an aviation-backed debt structure

TMF Group's global capital markets team is engaged in a transformative project with an American investment management firm and a prominent British multinational law firm. This ambitious project spans international borders, involving the United States, Germany and Luxembourg, and encompasses a broad spectrum of services.

This venture was initiated by a leading aviation group that is at the forefront of innovation and expansion in its industry. TMF Group has been selected to deliver an extensive array of services, primarily including management, administration, cash management, regulatory and tax compliance services for the local financing structure. The client entity will serve as a pass-through borrower through its various compartments to facilitate the underlying aviation related loans repackaging transaction.

The complex deal is valued at US$64 million for the first phase only, and highlights TMF Group's dedication to assisting clients in reaching their strategic goals across a range of jurisdictions and sectors.

30 May 2024: TMF Group's global capital markets team will act as the administrative, global collateral and safekeeping agent for Merama

Merama, an innovative e-commerce holding company based in Latin America, has engaged TMF Group for its latest venture.

Merama secured a significant financing deal with JP Morgan totalling USD80 million and TMF is supporting the transaction in Brazil, New York and Mexico.

Our role as an administrative, global collateral and safekeeping agent underscores our commitment to providing comprehensive financial solutions.

The financing will support Merama's ongoing growth initiatives, including strengthening business units, refinancing existing obligations and exploring new expansion opportunities across Latin America.

We are committed to excellence and we are proud of our skills in handling complex transactions. As a reliable partner in the financial services industry, we are dedicated to achieving outstanding outcomes while efficiently managing complexities across multiple sectors.

29 April 2024: TMF Group’s global capital markets team is providing backup administration services for a vehicle rental company

In collaboration with a multinational British bank and a leading US law firm, the TMF Group US capital markets team will originate a significant deal that spans the United States, from New York to San Francisco.

The transaction involves providing backup administration services for a vehicle rental company, with a substantial deal size of US$250 million.

As a trusted partner in the financial services industry, TMF Group continues to demonstrate its expertise in administration and corporate services for auto loan and auto lease asset-backed securities (ABS).

The deal underpins TMF Group’s commitment to excellence and its ability to navigate complex transactions across various sectors.

29 March 2024: TMF Group’s global capital markets team is providing SPV management and administration services in a new multi-jurisdiction trade receivables securitisation programme

Our capital markets team is pleased to announce a new deal in the Netherlands. In collaboration with two prominent Benelux banks, TMF Group is involved in a multi-jurisdiction trade receivables securitisation programme for a leading global life science and specialty performance ingredients distributor. Operating from and servicing within the Netherlands, TMF Group is providing SPV management, cash management and security trustee services for this transaction.

The programme, with a significant multicurrency revolving loan facility totalling €150,000,000, underscores the banks' commitment to fostering growth and resilience within the financial landscape. This initiative showcases a strategic move towards optimising liquidity and capital efficiency. Two of the world's largest law firms have been instrumental in navigating the legal complexities, ensuring the seamless execution of this landmark deal.

29 February 2024: TMF Group’s global capital markets team will serve as intercreditor agent and collateral agent, and establish a cross-country structure for StoneCo Ltd. 

Brazil-based StoneCo Ltd., a leading provider of financial technology and software solutions for the payment ecosystem, has selected TMF Group to support its groundbreaking new venture. 

TMF Group’s capital markets team will act as intercreditor agent and collateral agent, and establish a cross-country SPV domiciled in Europe for StoneCo’s US$467.5 million revolving securitisation facility with the United States International Development Finance Corporation (DFC). This is the biggest DFC transaction with a Brazilian entity and the first major USD-denominated securitisation transaction. 

The purpose of the facility is to enable the discount of receivables from small and medium-sized, women-led businesses and businesses with workforces composed primarily of women, mainly in the north and northeast of Brazil.

This multi-jurisdictional transaction originated in Brazil and will be supported with service operations from four different jurisdictions.

The deal reflects TMF Group's commitment to supporting complex cross-border transactions.

30 January 2024: TMF Group’s global capital markets team is providing SPV management and agency services for Pemberton’s first CLO

Pemberton, a leading alternative credit manager, has engaged TMF Group's global capital markets team to provide SPV services, act as the facility agent and serve as a loan registrar for their first collateralised loan obligation (CLO) issuance.

TMF Group's involvement spans multiple regions, operating through their offices in Ireland, Jersey and the UK. They will provide tailored services for an Irish CLO including SPV management services and comprehensive Jersey SPV services that include an independent director for the board and committees. They will also act as the facility agent for Class A notes in the UK.

This collaboration represents TMF Group's commitment to supporting Pemberton in the management of a significant deal worth €357.1 million within the CLO asset sector.

1 November 2023: TMF South Africa is providing services to a Sukuk Certificate Programme

Our capital markets team in South Africa is providing independent directorship services; trusteeship, accounting and tax services; and representative and company secretarial services to a ZAR30bn Domestic Ijarah Sukuk Certificate Programme. In this case, leased assets, under a master lease agreement, include a unique arrangement where the Trustee (on behalf of the Certificate holders) has been granted a personal usufruct right. The issuance proceeds of the Certificates will be applied by the Trustee towards the purchase and acceptance of the grant and transfer of the usufruct.

18 October 2023: TMF Brazil appointed as collateral, administrative, calculation and verification agent for BRL 25Bn loan

Our capital markets team in Brazil is acting as collateral, administrative, calculation and verification agent on a BRL 25Bn loan for a water and sewage project. It is one of the largest sanitation infrastructure concessions in the country's history. The lifetime of the loan is up to 35 years.

3 October 2023: TMF Italy and TMF UK appointed as corporate service provider and representative in RMBS transaction

Our capital markets teams in Italy and the United Kingdom are acting as corporate service provider and representative of the noteholders on an Italian RMBS (residential mortgage-backed securities) transaction.

The Law 130 SPV, Leone Arancio RMBS Srl, issued €7 billion of notes rated and listed on the regulated market of the Luxembourg Stock Exchange. Proceeds of the notes were used to acquire a portfolio of prime Italian residential mortgage loans originated by ING Bank N.V. Milan Branch. This securitisation meets the simple, transparent and standardised (STS) requirements of the EU Securitisation Regulation.

19 September 2023: TMF USA’s New York-based capital markets team providing SPV management and administration services on an asset backed commercial paper program

Our capital markets team in New York is acting as SPV manager and administrator for an asset backed commercial paper program. The commercial paper was issued by a US based insurance company. We are proud to continue consistently supporting asset backed commercial paper programs.

5 September 2023: TMF Luxembourg, Netherlands and United Kingdom providing issuer SPV services, including administration, regulatory, process agent and ESMA reporting services

Our capital markets team in Luxembourg, the Netherlands and UK are providing issuer SPV services for a Luxembourg securitisation structure investing in mortgage loans. Loans totalling €120 million have been granted to French real estate operators. They have been secured against French real estate and other assets.

SPV services include administration, regulatory, process agent and ESMA reporting.

22 August 2023: TMF Ireland is providing SPV administration, process agent and entity management services

Our capital markets team in Ireland is providing SPV administration, process agent and entity management services for an account platform that invests in private equity backed sub investment grade loans.

8 August 2023: TMF Peru is providing cash flow trust services

Our capital markets team in Peru providing cash flow trust services on a restructuring program.

25 July 2023: TMF Canada is providing independent directorship services on a receivables facility

Our capital markets team in Canada providing independent directorship services on a receivables facility for Bausch Health Companies Inc, a global, diversified pharmaceutical company, offering a diversified portfolio of products, with a core focus in eye health, gastrointestinal diseases and dermatology.

11 July 2023: TMF Group’s global capital markets team is providing administrative agent, intercreditor agent and collateral agent and notes registrar services regarding a secured notes issuance

TMF Group is providing these services through its New York office and locally in Mexico, Colombia and Peru. TMF Group is undertaking these roles for a leading investment manager, in relation to a US$505,000,000 secured notes issuance.

27 June 2023: TMF Group’s capital markets teams in London, Guernsey and the Netherlands acting as corporate services provider, cash manager, security trustee, PCC corporate administrator and securitisation reporting delegate

Our capital markets teams in London, Guernsey and the Netherlands are jointly providing services to a multi-jurisdictional equity release mortgage funding platform. Our services include UK corporate services provider, cash manager and security trustee, Guernsey corporate administration services to a Guernsey protected cell company and FCA securitisation regulation reporting services across the UK and Guernsey entities.

13 June 2023: TMF South Africa is providing administrative agent, independent directorship, cash manager and company secretarial services for a leading asset and fund manager

Our capital markets team in South Africa is providing administrative agent, independent directorship, cash manager and company secretarial services for a leading asset and fund manager.

30 May 2023: TMF Group's global capital markets team is providing administrative agent and global collateral agent services, in connection with data center acquisitions throughout Latin America

TMF Group is providing these services through its offices in Brazil, Chile, Colombia, Mexico, New York, Peru and Uruguay. TMF Group's unique global footprint enables it to offer a market-leading single solution for multiple-jurisdictional transactions.

16 May 2023: TMF Brazil providing verification agent services

Our capital markets team in Brazil is providing verification agent services for a Brazilian startup active in the car-rental industry.

2 May 2023: TMF Netherlands providing ESMA reporting agent services

Our capital markets team in the Netherlands is providing transparency reporting services under Article 7 of the ESMA Securitisation Regulation for securitisation structures falling in scope. With the EU Commission's updated guidance regarding Article 7 reporting, all securitisations with an EU investor base could potentially be captured by this requirement.

18 April 2023: TMF USA's New York-based capital markets team providing SPV administrative, independent director, accounting and corporate SPV services for a commercial paper ABS program

Our capital markets team in New York is acting as SPV administrative, independent director, accounting and corporate SPV services for a commercial paper ABS program issued by a national life insurance fund.

4 April 2023: TMF South Africa providing agent, cash manager and company secretarial services on new capital markets transactions

Our capital markets team in South Africa is providing independent director, cash manager, transfer agent and company secretarial services for one of South Africa’s leading asset and fund managers on three separate transactions.

21 March 2023: TMF Colombia acting as collateral agent on a senior loan for the development and operation of a maritime terminal

Our capital markets team in Colombia is acting as collateral agent in connection with a senior loan for the development, operation and maintenance of Puerto Antioquia, a maritime terminal located in Colombia.

7 March 2023: TMF Brazil recognised for its role in the São Paulo Metro Line 6 PPP transaction

Our capital markets team in Brazil is proud to be part of the award-winning São Paulo Metro Line 6 transaction. This was recognised as a deal of the year at the Proximo Latin America Awards 2022. TMF Brazil acts as administrative agent, intercreditor agent and accounts administrator.

21 February 2023: TMF UK’s capital markets team acting as facility agent on a sustainability linked loan agreement

Our capital markets team in London is acting as facility agent in connection with a €600M sustainability linked loan agreement refinancing an existing bond of Eesti Energia.

31 January 2023: TMF USA's New York-based capital markets team acting as reporting agent on a structured finance issue

Our capital markets team in New York is acting as reporting agent, providing waterfall calculations in connection with a US$250m transaction, structured similarly to a collateralised fund obligation. The transaction sponsor, a real estate asset management firm, pooled cash flows from GP interests in real estate into a rated security.