Derivatives, Structured Products, and Secondary Markets
We represent clients across the capital stack and throughout the life of a transaction — from product development and execution to regulatory compliance, dispute resolution, and insolvency—drawing on deep experience in public finance, banking, securities, and project finance.
Our attorneys have represented investors, lenders, banks, funds, advisers, and financial intermediaries; borrowers and other end users — including health care systems, real estate and project finance borrowers, corporations, higher education institutions, and affordable housing lenders; and corporate trustees.
The team advises on primary market financing transactions, including public offerings and privately placed direct purchases (including forward purchases), across a range of sectors such as not-for-profit organizations, charter schools, continuing care retirement communities, real estate financings, and taxable PACE bonds.
The practice also handles liquidity facilities, letters of credit, and other forms of credit enhancement; guaranteed investment contracts; and repurchase agreements. Our attorneys are fluent in municipal and non-municipal capital markets and regularly advise on secondary market products and programs, including custodial receipt structures, tax-exempt securitizations such as tender option bond programs, taxable trust pass-through structures, REMIC trusts, trust terminations, and total return swaps. The team also advises on complex structured transactions, including tax-exempt energy prepay transactions, as well as workouts, debt restructurings, and distressed credits.
In addition, our attorneys advise on transaction features such as optionality, forward starts, deal contingencies, early termination rights, cross-defaults, nontraditional credit support, pooled programs, and other bespoke terms.
The practice draws on the depth of the firm’s finance platform, working seamlessly with attorneys across public finance, real estate, banking, project finance, and regulatory matters. The team represents both buy-side and sell-side market participants in negotiating derivatives and related trading and credit agreements, including ISDA master agreements and related documentation.