Chapman attorneys are industry leaders when it comes to providing legal advice to sponsors of the world’s largest multi-seller asset-backed commercial paper (ABCP) conduits. Our comprehensive representation of conduit sponsors includes partnering with our clients to address the many legal, regulatory, and business issues involved in successfully forming and managing an asset-backed commercial paper business. Our lawyers have also led the market in advising conduit sponsors and commercial paper placement agents in regard to such innovations as redeemable, puttable, and extendible commercial paper notes.
Chapman’s experience in the asset-backed commercial paper sector includes representing sponsors of securitization conduits financing assets from the U.S., Canada, Europe, South America, Australia, and Asia, and ranges from financing traditional assets, such as credit card and trade receivables and auto loans, to more esoteric assets such as motion picture rights and telecommunication assets. Our attorneys have also had extensive experience in structuring financings of these same types of assets for financial institutions using their balance sheets in transactions structured like ABCP conduit financings.
Chapman attorneys have also partnered with our clients to develop some of the most innovative products in the commercial paper conduit sector. Our lawyers represented the sponsors of two collateralized commercial paper conduits in the establishment of their programs and are very familiar with the repo and repo-like products that support these programs. Chapman attorneys are also actively engaged in the development of new conduit products in response to today’s dynamic regulatory environment.