Capital Markets

That covers formation and domiciliation, a registered address, directors, a company secretary and governance. It also covers accounting, tax and reporting under the Foreign Account Tax Compliance Act (FATCA), done on time and properly documented.

Our issuer SPV services are used by originators, arrangers, lead legal counsel and structurers across structured finance, specialty finance and real estate debt. We usually act for the issuer SPV. Where the deal needs it, we can also act as trustee or agent, so more of the transaction sits with one team.

You'll know exactly how we work and where your work is with us at every stage. No surprises. Cut time, not corners.

Here's how it works. Before any money moves, the parties agree the release conditions in an escrow agreement. That might be completion, a regulatory approval or the end of a warranty period. We hold the cash in a separate account. When the conditions are met and the agreed instructions arrive, we release it.

What if the parties disagree? The money stays put. We only release it as the escrow agreement allows, typically on joint written instructions or a court order. (Please confirm the currencies that VG can hold.)

M&A deal teams; corporate treasuries and their lawyers get an escrow agent that works to the deal timetable. You'll always know where the money is and what has to happen before it moves.

Facility agent or security trustee? It's a common question. The facility agent runs the loan's administration. The security trustee holds the security, such as charges over property or shares, on behalf of all the lenders, and enforces it if needed. Both act on the lenders' instructions. One firm can do both. VG does.

Our facility agent services are used by private credit funds, direct lenders, specialty finance and real estate debt managers. Decisions such as waivers, amendments or acceleration follow lender instructions, at the thresholds set in the documents. We run the process. The lenders make the call.

You'll know exactly how we work and where your work is with us.

Here's how the role works. We act on the lenders' instructions, usually from the majority lenders as defined in the documents. We don't make commercial decisions for the lenders. We don't monitor the value of the security unless the documents require it.

If enforcement is needed, we act on instruction. Steps such as appointing a receiver or selling secured assets happen only when the lenders direct them, and the proceeds are paid out in the order the documents set.

That's the role. Clear limits followed precisely.

Most of the time, the work is administrative and steady. Keeping track of the noteholders. Monitoring the issuer against the terms of the notes. Handling consents, amendments and noteholder meetings as the trust deed requires.

If something goes wrong, the role changes. The note trustee acts on noteholder instructions, given by resolution or by the required share of holders, in line with the trust deed. We follow the documents precisely, and we tell noteholders clearly what we can and can't do.

Issuers, arrangers and their lawyers get a note trustee that understands the paperwork and responds quickly.

As calculation agent, we work out interest and other amounts due under the transaction documents. As cash manager, we run the transaction accounts, reconcile them and apply payments in the right order through the payment waterfall. Every figure is recorded and every payment can be traced.

We also handle record keeping and reporting to the European Securities and Markets Authority (ESMA) standards, where your transaction requires it.

Small errors in a waterfall don't stay small. That's why we check, reconcile and document as we go. You get accurate numbers, on time, with a clear record behind them.

Both roles do the same basic job. They hold something important, keep it safe and release it only when the documents say so. No early release. No informal workarounds.

That matters when borrower data, records or collateral sit at the heart of a deal. The parties agree the release rules up front. We follow them precisely and keep a clear record of what was held and when it moved.

Our team works across public and privately placed bonds, asset-backed securities (ABS), residential and commercial mortgage-backed securities (RMBS and CMBS), collateralised loan obligations (CLOs), project finance and other structured deals.

We usually act for the issuer special purpose vehicle (SPV). Where your deal needs it, we can also provide trustee and agency services, so fewer handovers sit between the parties.

Deal timetables don't move for anyone. We work to yours, and you'll know exactly where your work is with us.

VG can act in the roles these deals need, including issuer SPV, trustee and agent. Your Shariah advisers approve the structure. We administer it.

Shariah-compliant financing goes beyond sukuk. VG has used a Commodity Murabaha to help a client expand a property portfolio through Shariah-compliant lenders. Read the case study to see how it worked.

Lenders, corporates and their lawyers get a team that understands both the documents and the cultural requirements behind them, and the importance of getting both right.

Listing gives your securities a recognised exchange home, with the transparency that comes with it. We prepare and manage the listing application and work with TISE through the process. Once listed, ongoing obligations apply under TISE's listing rules. We keep track of them, so your listing stays in good standing.

Already using VG for the SPV, trustee or agency roles? Your listing can sit with the same team.