Cleary Gottlieb has pioneered many of the key products used widely in today’s structured finance markets. We specialize in analyzing the complexities of new transactions envisioned by our clients so that we can draw a blueprint to help our clients reach their goals. Our insight and experience often let us craft simple solutions to complex problems, and our resolve allows us to deliver thoughtful and effective solutions even when the answer is far from simple.
Cleary Gottlieb legal landmarks in structured finance include participation in:
Counsel in structured finance transactions in the trillions of dollars, including over $2 trillion in agency mortgage-backed deals since 2001.
The development of the first collateralized mortgage obligation (CMO), the first collateralized loan obligation (CLO), the first collateralized bond obligation (CBO) and the first real estate mortgage investment conduit (REMIC).
The first asset-backed commercial paper programs.
Asset-backed securities based on secured and unsecured consumer finance assets.
Cleary Gottlieb represents issuers, underwriters and other market participants in transactions involving mortgages, high-yield bonds, unsecured bank loans, automobile loans, credit cards, home equity loans and other types of assets. Our varied expertise extends to highly complex structured financings secured by parties involved with commercial real estate, to repackagings and structured notes, as well as to representations of industry associations. In addition to the private sector, we are counsel to multiple sovereign debtors and have participated in virtually every significant securitization of emerging market sovereign restructured debt. The firm also provides clients with unsurpassed knowledge and expertise in the taxation of structured products; one of our tax partners co-authored the definitive treatise on this topic, Federal Income Taxation of Securitization Transactions (4th Edition).
With 16 offices around the globe, Cleary Gottlieb advises on the structuring of asset-backed transactions in virtually every major international financial market. Our clients receive tailored advice on every aspect of their transactions, as our structured finance team draws on experts from related disciplines and other practice areas to attain the best possible legal execution. The firm always works toward efficient and cooperative solutions that meet the specific business objectives of our clients.
What Others Say About Our Practice
“This US-heavyweight has stellar offerings in debt, equity and structured finance across an impressive range of jurisdictions with its most notable strength being in the USA, London and Latin America. ‘This is a top-notch firm. They know capital markets...’”
Chambers Global (2013)
“Cleary is universally recognized as a market leader in the derivatives and structured products area. The firm has a highly impressive global reach and makes best use of its complementary capabilities in tax and insolvency. The group has amassed a wealth of collective experience and is held in especially high regard for its role as a regulatory adviser … It provides this cutting-edge counsel to a host of derivatives market participants and financial trade associations … ‘The lawyers deliver the highest level of legal services in the world.’”
Chambers USA (2012)
Cleary Gottlieb “is ‘probably the best expert out there when it comes to structured finance.’ In 2011, a strong source of activity surrounded aspects of restructurings, mergers, acquisitions and investments, but the firm was also kept busy representing financial institutions on repurchase agreements, forward contracts, securities contracts and structured products, including in connection with bankruptcy proceedings.”
The Legal 500 - US (2012)
“This firm maintains an excellent reputation in debt, equity and structured finance, with a formidable profile in the USA, Latin America and across Asia and Europe. It is also a market leader in Russia. The firm routinely undertakes work with significant international aspects, including many sovereign debt transactions.”
Chambers Global (2011)
“Cleary’s global network and prominence in areas such as derivatives tax, insolvency and securities regulation help its derivatives and structured products practices remain at the cutting edge of market developments. The group has been especially active in advising major derivatives market participants, as well as leading banks and dealers, on Dodd-Frank Act reforms.”
Chambers USA (2011)
“Bolstered by a deep bench, the firm’s regulatory and transactional expertise shines. … The firm’s across-the-board strength in structured finance means that SIFMA, ISDA and other regulatory bodies routinely seek out the group’s advice.”
Chambers Global (2010)