Loan notes find favour as asset-backed funding

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Loan notes are becoming popular in asset-backed funding as pension schemes and sponsors increasingly use special purpose vehicles (SPVs) to reduce scheme deficits, lawyers say.

Marks & Spencer was the first company to place properties in a Scottish Limited Partnership (SLP), a kind of SPV, six years ago (PP Online, 23 January 2007). The properties were leased back to t...

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