• Printer friendly
  • Email this page to a friend
  • Generate a PDF version of this page

Securitization

Holland & Knight lawyers have represented public and private issuers, bank and non-bank sponsored commercial paper conduits, rating agencies, servicers, underwriters and investors in asset securitization transactions both in the United States and internationally for more than 20 years. Our counsel to securitization clients includes dealing with the complex legal and business issues relating to true sale and substantive consolidation, accounting standards, tax and regulatory matters. We have the experience and creativity to work with our clients and related market participants to develop, document and close innovative transaction structures, which enables our clients to achieve their financing and liquidity goals.

Specific Asset Category Expertise

    • Trade receivables
    • Timeshare loans
    • Motor vehicle loans and leases, including wholesale and floor plan arrangements
    • Equipment lease receivables, including aircraft and rolling stock
    • Structured settlement payments
    • Residential and commercial real estate mortgage loans, including home equity loans and lines of credit
    • Future cash flows
    • Yacht loans
    • Manufactured housing loans
    • Credit card receivables
    • Health care receivables, including Medicare, Medicaid and insurance company receivables
    • Commercial lease receivables
    • Retail installment sales contracts
    • Tobacco settlement attorneys’ fees and payments under the 1998 Master Settlement Agreement
    • Stranded electric utility costs

Representative Transactions

    • Counsel to a mortgage company as originator/sponsor with respect to the development and structuring of a $25,000,000,000 non-bank sponsored mortgage loan warehouse commercial paper conduit facility.
    • Counsel to a $12,000,000,000 asset-backed commercial paper issuer supported by automotive retail installment sale contracts, automotive leases and automotive dealer loans.
    • Counsel to an international timeshare developer in multiple term and conduit securitizations with respect to over $6,000,000,000 of timeshare loans relating to timeshare resorts in various U.S. and foreign jurisdictions, the term notes of which were sold in private placements under Rule 144A and Regulation S.
    • Counsel to a purchaser of over $6,000,000,000 in asset-backed debt securities supported by portfolio of automobile installment sales contracts, which securities were sold in 144A compliant private placements.
    • Counsel to purchaser of over $5,000,000,000 in asset-backed debt securities supported by automobile lease receivables portfolio, which securities were sold in 144A compliant private placements.
    • Counsel to an electric utility in connection with the creation, structuring and public issuance of $3,400,000,000 in bonds backed by stranded cost assets.
    • Counsel to a lessor of commercial aircraft engines in the combined securitization and private placement in the U.S. and Europe of $362,000,000 of leases of commercial aircraft engines.
    • Counsel to a technology manufacturing company in connection with the creation and structuring of a $300,000,000 revolving conduit securitization facility provided by a major bank for trade receivables from its European and Asian subsidiaries.
    • Counsel to one of the world’s largest plastics manufacturers in the restructuring of a $250,000,000 facility for the securitization of trade receivables provided by a major bank.
    • Counsel to a major global transportation, logistics and supply chain management solutions provider in the restructuring of a $175,000,000 facility for the securitization of trade and lease receivables provided by a major bank.
    • Counsel to a major investment bank in connection with a $175,000,000 revolving facility secured by the sale of receivables from leases by communications companies of space on broadcast towers throughout the U.S.
    • Counsel to a major bank in connection with the establishment of a $100,000,000 warehouse facility for student loans originated by a state related lending entity.
    • Counsel to a seller/originator with respect to various privately placed securitizations /participations of golf course loans aggregating $95,000,000.
    • Counsel to a seller/originator with respect to the issuance of $86,000,000 in asset-backed notes, supported by locomotive and rolling stock lease receivables in the U.S., Canada, and Mexico, which notes were sold in a 144A compliant private placement.
    • Counsel to a seller of $70,000,000 of trust certificates backed by residual interest of automobile installment loan securitization transaction, which certificates were sold in a 144A compliant private placement.
    • Counsel to originator/sponsor with respect to issuance of $32,000,000 in notes backed by structured settlement payments, which notes were sold in a 144A compliant private placement.

Recent Developments

Members of our Securitization Practice Group, together with Holland & Knight attorneys experienced in insurance regulatory and tax issues, are assisting financial services industry clients in creating securitization structures to take advantage of the capital markets opportunities afforded by the life settlements asset class and to serve as a model for facilitating compliance with the evolving complexity of the surrounding regulatory environment.