|
Covington’s finance practice includes a range of structured finance and financial derivatives transactions, frequently novel in their design. The firm advises asset managers, investors, lenders and other parties in structuring, executing and managing sophisticated pooled investments and complex structured investment products.
We handle transactions involving a diverse range of asset classes and deal structures, including CDO/CLOs; equity- and credit-linked notes; asset-backed commercial paper, medium term notes, auction rate securities; cash and synthetic deals and multi-tranche and single-tranche transactions. Our lawyers have extensive experience with the financial derivatives used in connection with structured products, including interest rate and currency swaps, total return swaps, credit default swaps (including pay-as-you-go structures and index swaps) and equity derivatives. Our finance lawyers draw upon the firm’s extensive expertise in capital markets and securities regulatory matters, bankruptcy and restructuring, tax and ERISA.
Representative Matters
- A large US pension fund in a series of managed, single-tranche credit-linked note transactions investing in leveraged loan and distressed ABS assets.
- A major US investment bank in developing and structuring a liquidity alternative for auction rate securities investors.
- The Goodyear Tire & Rubber Company in a €400 million multi-jurisdiction European receivables purchase facility funded through a commercial paper conduit.
- Mastercard International in the structuring of global collateral arrangements, including cross-border bankruptcy-remote structures.
- Resource America and its Apidos and Ischus financial fund management affiliates as collateral manager in a series of cash and synthetic CDO and CLO transactions and Resource America in the acquisition of a CLO management business previously operated by ACA Capital.
- The UK manager of two structured investment vehicles on US law aspects affecting the SIVs’ restructuring.
- US and international investors in bespoke CDO, variable rate note, equity- and credit-linked note and other complex structured product investments.
|
|
|
|
|
|
|