London Office Advises European Equity Tranche Income Ltd on its Admission to AIM and the Channel Island Stock Exchange
LONDON (28 April 2006) — McDermott Will & Emery UK LLP has advised European Equity Tranche Income Ltd on its admission to AIM and the Channel Islands Stock Exchange. The Company raised €100 million through a placing and offer for subscription of 100 million shares.
The Company is a newly established, closed-ended limited liability company incorporated in Guernsey. The Company’s investment objective is to deliver stable returns to shareholders in the form of quarterly dividends and to preserve capital. It intends to achieve this by investing in non-investment grade and equity tranche (or "first-loss") positions of residential mortgage backed securities and, to a limited extent, other asset-backed securities in Continental Europe and the United Kingdom.
The McDermott team included Director of Tax Services, Guy Madewell and tax associate James Ross.
