18 December 2019 – London, UK – Single Platform Investment Repackaging Entity SA (“SPIRE”) is pleased to announce the admission of NatWest Markets to its multi-dealer programme, bringing the number of dealers on the platform to 14 and further increasing choice for investors in the repackaging market.
The SPIRE programme allows for repackaged notes arranged by the platform’s dealer-members to be issued in standardised formats. Investors can gain exposure to the returns of a variety of underlying collateral assets and customisable payoffs. The platform aims to bring transparency, liquidity and simplicity to the market for repackaged securities. To date, in excess of EUR 8bn-equivalent has been issued to major UK, European and Asian institutional investors since the programme was launched in May 2017.
Harsh Shah, Head of Financial Institutions Origination & Solutions at NatWest Markets, said:
“Given our experience in the repackaging market and our deep global investor relationships, we are extremely pleased to be joining SPIRE. NatWest Markets is committed to supporting SPIRE’s aim to standardise documentation, increase execution efficiency and pricing transparency, and reduce costs for investors in structured debt.”
The SPIRE platform was established by BNP Paribas, Citigroup, Credit Suisse and J.P. Morgan in May 2017. Barclays, Goldman Sachs, Crédit Agricole CIB and Morgan Stanley joined in 2018 with Natixis, BofA Securities Europe SA, Deutsche Bank, HSBC and Societe Generale SA joining in 2019.
SPIRE is a special purpose vehicle established for the purpose of issuing asset backed securities. SPIRE has established a programme for the issuance of secured notes. The liability of SPIRE under the Notes and the Programme is separate in respect of each Series. Under the programme, SPIRE, subject to compliance with all relevant laws, regulations and directives, may, from time to time, issue series (each, a “series”) of notes, in one or more tranches (each, a “tranche”), on the terms set out in its Base Prospectus as completed by the final terms prepared in connection with such tranche or the pricing terms prepared in connection with such tranche.
Amy Cayzer, Media Relations Manager, NatWest Markets, +44 (0)20 7672 1219