Business Model
Accola advises mid to large size corporations on their funding, and specifically their securitisation projects. Our services include analysing clients’ asset portfolios, selecting the most appropriate funding partners, maximising the amount of funding obtained through careful review of the structuring options, working with rating agencies, third party STS certifiers, statutory auditors and lawyers to ensure the smooth running of transactions. We work in multiple jurisdictions/currencies, across a variety of assets types:
- Trade receivables
- Operational and financial leasing
- Loans
- Whole business securitisation
Independence
We are independent advisors: our role is to secure the most effective transaction terms for our clients. As such, we have no specific ties with investors, management companies, law firms or back up servicers. We run RFPs to gauge the level of market appetite for each transaction. Depending on the size/complexity of the programme and the rating of the originator, we may involve as few as 5 banks or as many as 50 in our RFPs. We know all the major players in the European market. Specific RFPs may be undertaken to select the most appropriate legal advisor, management company, or back up servicer. Again we know the market players, their strengths and weaknesses, and will provide educated and neutral advice to our clients.
Expertise
Securitisation is a complex funding technique. Most treasurers do not have the time necessary to acquire in-depth expertise in the field. Accola brings you this expertise. Its founding partner, Thierry Sebton, established one of the first securitisation teams in Europe in 1990, contributing to the shaping of the laws now governing securitisation and pioneering the securitisation of new asset types (credit card receivables, retail mortgages, inventories) in France and Italy. As an advisory firm, Accola has worked for corporates in many sectors (manufacturing, construction, trading, commodities, etc.) and covered a wide range of asset classes. We cover all technical aspects of the transaction, including the methodologies followed to define the level of credit enhancement, the pricing of liquidity lines or securitisation notes. We are agile problem solvers, with strong methodological and project management skills.
Dedication
We work for a very limited number of clients each year. As such we are completely dedicated to the success of the transactions that we onboard, which ensures swift turnaround times.