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Securitization

Kramer Levin lawyers are innovators in the field of securitization, especially in structuring transactions involving esoteric asset classes. Responding to our clients’ unique needs, we have pioneered many first-of-a-kind transactions — including securitizations of solar assets, time-shares, copyrights, trademarks, patents, licensing rights, distribution rights and commercial mortgages, as well as M&A transactions using securitization as the source of financing in the form of a “whole business” securitization. We regularly represent most of the investment banks in New York that underwrite esoteric asset-backed securities or that provide warehouse loan facilities to their clients as a path to an eventual capital markets securitization offering.

Clients seek our advice because they see us as partners able to determine whether a novel asset can be securitized and highly experienced in crafting the type of creative solutions that are tailored to the unique needs of new asset classes. Always at the forefront regarding esoteric assets, we offer the knowledge and experience gained from being the first to test new asset classes and to respond to the challenge of applying newly adopted regulations to our structured financing programs.

Our securitizations lawyers are highly regarded in the following areas:

  • Solar (including the first-ever securitization by SolarCity)
  • PACE, commercial and residential (including the first-ever securitization by Renovate America)
  • Energy efficiency assets
  • Time-share loans (we are involved in more than 80 percent of the time-share market)
  • Intellectual property (including the first-ever securitization of music royalties by David Bowie)
  • Equipment leases
  • Whole business securitization (including the first-ever securitizations used to finance the management buyouts of Bill Blass and The Athlete’s Foot)
  • Subprime auto loans
  • Structured settlements and lottery winnings
  • Marketplace lending
  • Consumer retail sales finance

We also work closely with the firm’s Derivatives and Structured Products team, advising on complex financings.

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