Virgin Media’s £125 Million handset securitization


Ropes & Gray also advised on the first ever handset securitization seen in the UK, which provides up to £125m of ‘AA’ equivalent senior funding.

As the first securitization of this asset class in the UK, the deal posed a number of unique legal and commercial challenges and Ropes & Gray worked closely with Virgin Media to develop solutions to these issues while maintaining operational flexibility.

The Ropes & Gray team that advised on this deal was led by securitization partner Chris McGarry (Picture) and associate James Jirtle.

Involved fees earner: Chris McGarry – Ropes & Gray; James Jirtle – Ropes & Gray;

Law Firms: Ropes & Gray;

Clients: Virgin Media;