Sonnenschein's Capital Markets Practice represents virtually every banking and financial institution that is active in the financing, purchase and securitization of financial assets. The Capital Markets Practice at Sonnenschein also represents every type of market participant, including issuers, investors, liquidity providers, lenders and conduits, in the U.S. and beyond.
At mid-year 2009, Sonnenschein held top positions as issuer and underwriters' counsel based on deal volume, as reported in Asset-Backed Alert:
- ABS / MBS
- 1st - Counsel to issuers with 20 transactions valued at $9.1 billion
- 2nd - Counsel to underwriters with 14 transactions valued at $6.3 billion
In spite of the ongoing disruption in deal flow for 2008, our Capital Markets attorneys continued to rank prominently across the industry's league tables as reported by Thomson Financial:
- Asset-Backed Securities
- 11th by issue number (tie) in U.S. - Counsel to issuers with 4 transactions valued at $1.8 billion
- 11th by issue number and 13th by deal size in U.S. - Counsel to managers with 6 transactions valued at $2.6 billion
- Mortgage-Backed Securities
- 2nd by issue number (tie) and 4th by deal size in U.S. - Counsel to issuers with 16 transactions valued at $7.4 billion
- 1st by deal size and 2nd by issue number in U.S. - Counsel to managers with 17 transactions valued at $11.1 billion
Sonnenschein's Capital Markets attorneys originated many of the advances in the structured finance industry and have a notable record of accomplishments, including:
- Formulating every significant innovation in the secondary mortgage market
- Helping to develop the senior/subordinated structure for mortgage-backed securities, and creating the shifting interest structural refinement that remains the industry standard
- Filing the first commercial mortgage-backed securities shelf registration statement, and representing the issuer in the first take down off that shelf
- Representing the first major Wall Street commercial mortgage loan conduit purchaser, and the underwriter in the first Fannie Mae ACES™ multifamily swap
- Devising standard forms of participation and servicing agreements, as well as pooling and servicing agreements, that are all widely used in the secondary mortgage market
Our Capital Markets services encompass a range of areas and disciplines, including:
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