Paul Hastings LLP has advised Beequip B.V. on HIVE 2026-1, the Dutch equipment finance specialist’s first EU STS assessed securitisation and its second public asset-backed securities transaction, in a mandate that shows how specialist leasing assets are continuing to move into the mainstream capital markets market.
The firm announced the transaction on June 24, 2026, with Asset-Backed Finance partner Brian Maher leading the Paul Hastings team. Partners Shawn Kodes, Matthew Nemeth and Catherine Richardson also worked on the deal, alongside of counsel Mike Sherman and associates Bessie Callaway, Emily Firmston, James Redmond and Vadim Popov.
STS Verification International GmbH lists HIVE 2026-1 B.V. as a non-ABCP equipment lease securitisation originated by Beequip B.V., with a reported transaction size of €500 million and the Netherlands as the asset jurisdiction.
The regulatory context is the reason this is more than a routine deal notice. The European Securities and Markets Authority treats the EU Securitisation Regulation as part of the wider Capital Markets Union framework, covering risk retention, due diligence, transparency and the simple, transparent and standardised criteria used for qualifying transactions.
STS status is not just a market label in a transaction such as HIVE 2026-1. It shapes the discipline around asset eligibility, disclosure, responsibility allocation, verification evidence and continuing regulatory compliance after issuance, leaving little room for documentary shortcuts.
Beequip’s latest transaction also builds on a relatively recent public-market path. In November 2025, Hogan Lovells advised BNP Paribas, Bank of America and Citibank as joint lead managers on HIVE 2025-1, Beequip’s inaugural public securitisation. That €500 million transaction was backed by leases across transport, construction and maritime equipment and included €377.5 million in senior notes rated AAA by S&P, DBRS and Fitch.
For law firm management, the professional point is that structured finance mandates are increasingly won at the intersection of regulatory fluency, asset-level diligence and cross-border execution. AFME reported that €59.6 billion of securitised product was issued in Europe in the first quarter of 2026, while €24.9 billion was notified as STS to ESMA and the FCA. That keeps STS work firmly within the commercial field of capital markets, tax, insolvency, regulatory and rating-agency advice.
Paul Hastings and Beequip will now be watched by structured finance teams assessing whether HIVE 2026-1 gives equipment lease originators a stronger template for EU STS public ABS issuance, with counsel expected to evidence regulatory compliance as carefully as commercial execution.