"He is building an impressive practice, with key investment banks looking to him for securitisation advice."
Chambers UK 2024
Up & Coming – Capital Markets: Securitisation
Chambers UK 2024
"A best in class professional."
Chambers UK 2023
"He works at a high level; his technical qualities and client service are impeccable."
Chambers UK 2022
Profile
Tom Cochran is a Partner in the Finance Department of the London office of Latham & Watkins and a member of the Structured Finance Practice. He is also a member of the firm’s Opinions & Confirmations Committee.
Mr. Cochran’s experience across asset classes includes advising on transactions collateralized by trade receivables, NPLs, residential mortgage loans, unsecured personal loans, auto loans, credit card receivables, FinTech-related financial assets, corporate loans (CLOs and direct lending), and other esoteric asset classes. The transactions have arisen in the context of portfolio acquisitions, corporate restructurings, broader M&A transactions, as well as ongoing treasury management, each of which have demanded bespoke financing solutions. He has advised on the full breadth of securitization structures from traditional public securitizations to private conduit-funded warehouse financings.
Mr. Cochran has also advised on a number of structured trade and energy related finance transactions, including gas and power financings, commodity receivables securitizations for large energy traders, freight receivables securitizations, inventory and commodity backed structured finance transactions, and structured supply chain finance solutions.
Prior to joining Latham & Watkins, Mr. Cochran was an executive director at Goldman Sachs supporting its securitization and structured finance businesses.
Experience
Mr. Cochran’s transactional experience includes advising:
J.P. Morgan on a £300 million securitization of unsecured salary-deduction loans originated by Salary Finance
Barclays on a novel £700 million financing backed by Supplier of Last Resort energy-related receivables originated by Octopus Energy
Tamara, a shopping and payments platform, on a first-of-its-kind US$150 million securitization of buy-now-pay-later receivables originated in The Kingdom of Saudi Arabia
Lowell, a leading European non-performing debt purchaser, in connection with a first-of-its-kind rated £300m (GBV) securitization of unsecured UK consumer NPEs
J.P. Morgan in connection with a £200 million securitization of credit card receivables originated by New Wave Capital (trading as Capital on Tap)
The arrangers on the wholesale restructuring and refinancing of a £400 million private securitization of UK second-lien residential mortgage loans
Blackstone on UK aspects of SESAC’s 2022-1 musicroyalty-backed whole-business securitization
Startline Motor Finance on its inaugural £292 million UK STS and London-listed auto-loan public securitization
Goldman Sachs on its US$150 million receivables securitization for Splitit, a buy now, pay later provider
J.P. Morgan as the arranger of a first-of-its-kind €150 million energy receivables securitization established for Public Power Corporation (PPC)
DE Shaw on its mezzanine investment in an innovative private financing/securitization for Casavo S.p.A, an Italian PropTech firm
A financial institution in connection with a private securitization of bridging and development mortgage loans
Goldman Sachs on its proposed purchase of a €3 billion portfolio of Spanish residential mortgage loans known as Project Prometeo
On other portfolio acquisitions of residential mortgage loans and unsecured personal loans (including, through portfolio call options) and associated bridge financing and/or follow-on or “exit” securitization transactions
Christofferson Robb & Company on the purchase and financing of a French NPL portfolio from Credit Logement
On the establishment of an NPL joint venture platform for a European credit management specialist and third-party investor, as well as multiple private securitizations of unsecured NPLs
On delivering global trade receivables securitizations for large chemicals groups*, various commodity traders*, and a global shipping group (with experience in over 30 jurisdictions)
J.P. Morgan on a €180 million auto-lease securitization for Autohellas, the largest national franchisee of Hertz International
On behalf of leading international banks in connection with a number of UK and South African auto-loan and lease securitizations
J.P. Morgan on a SEK2 billion securitization of Swedish personal loans originated by Resurs Bank
On a range of other private personal loan/credit securitizations in the UK, Spain, Sweden, Finland, and other European jurisdictions
KKR in respect of financing arrangements relating to the purchase of a £500 million credit card portfolio by Jaja, a UK FinTech lender
On a number of other private credit card securitizations, including in the UK and Greece
On the structuring and regulatory advice for CLOs and CLO risk retention vehicles
On the wholesale restructuring of a European bank’s ABCP conduit program*
On a range of matters relating to certain central bank funding facilities available under the Bank of England’s Sterling Monetary Framework*
*Matter handled prior to joining Latham
Qualifications
Bar Qualification
England and Wales (Solicitor)
Education
LPC, BPP Law School, London, 2007
Graduate Diploma in Law, Oxford Brookes University, 2006
BA in Modern History, Magdalen College, Oxford University, 2005
The 144A/Reg S zero coupon notes are part of the second series of notes issued under a multi-tranche structure to finance the critical infrastructure project. The firm had also advised the structuring agents and note purchasers under the first tranche.
The 4(a)(2) debt private placement was issued under a multi-tranche structure allowing additional notes to be issued to finance the remainder of one of Panama’s critical new infrastructure projects.
Notice: We appreciate your interest in Latham & Watkins. If your inquiry relates to a legal matter and you are not already a current client of the firm, please do not transmit any confidential information to us. Before taking on a representation, we must determine whether we are in a position to assist you and agree on the terms and conditions of engagement with you. Until we have completed such steps, we will not be deemed to have a lawyer-client relationship with you, and will have no duty to keep confidential the information we receive from you. Thank you for your understanding.
