Derivatives
- The Holland & Knight Derivatives Team negotiates and drafts derivatives documentation for complex transactions, on a stand-alone basis and in connection with capital markets transactions, such as convertible offerings, securitizations, project financings, loans or collateralized debt obligations.
- We are members of the New York City Bar Committee on Futures & Derivatives, the New York State Bar Association's Derivatives and Structured Products Law Committee, and several ISDA committees.
- Due to our extensive regulatory experience, we are frequently invited to speak on regulatory issues, including by the Practicing Law Institute (PLI) and the New York City Bar Association.
Overview
Holland & Knight's Derivatives Team attorneys have extensive experience in all significant derivatives markets, including credit, equity, energy and commodity derivatives; insurance-linked products; distressed assets/restructurings; synthetic collateralized debt obligations (CDOs); repos; securities lending; and FX products.
Clients depend on Holland & Knight's Derivatives Team to provide comprehensive guidance in the following areas:
Regulatory developments across a broad spectrum of industries. Keeping abreast of regulatory developments is imperative, and enables our lawyers to guide clients on comment-making about proposed legislation and regulation, provide ongoing operational and compliance counseling, and offer advice on appropriate modifications of transaction structure and documentation.
Equity derivatives. We advise clients on such topics as include prepaid forwards, equity collar monetization strategies, ATM equity programs, hedge fund derivatives and call spreads.
Energy-related regulatory issues and project financing. Our team works with Holland & Knight's energy regulatory and project finance practices on the full scope of energy-related derivatives, including power, oil and natural gas trading for utilities; merchant generation; and power marketers. We represent government-affiliated utilities with respect to commodity swaps, options and traditional or prepaid forward agreements to manage the price risk of natural gas and other inputs or outputs. We also structure trading facilities using physical assets and liquid collateral.
M&A transaction-related concerns. Our Derivatives Team provides guidance relating to the diligence, risk assessment, and acquisition and disposition of derivatives portfolios in connection with M&A transactions.
Bankruptcy and SIPA proceedings and related mediations. We represent counterparties to safe harbor contracts in connection with bankruptcy and SIPA proceedings and related mediations.
Insurance-linked derivatives. Working closely with the firm's insurance industry lawyers, members of Holland & Knight's Derivatives Team have developed products to effect reinsurance transfers through the use of derivatives, and have structured and documented insurance-linked derivatives, including catastrophe and mortality swaps.
Interest rate derivatives. Our derivatives experience includes interest rate and basis swaps, caps, collars, floors, forward rate agreements, bond warrants and swaptions (options to terminate swaps, and options to enter into or cash settle swaps).
Credit derivatives. Our team assists clients with all types of credit derivatives, including credit default swaps (CDS) on residential mortgage-backed securities (RMBS), CDS on CDOs and loan credit default swaps (LCDS); structuring and documentation of synthetic CDOs, including hybrid and 100 percent synthetic structures; and "bespoke" funded and unfunded programs.
Liquidity derivatives. We assist clients with various types of liquidity derivatives, including market value swaps, total return swaps, liquidity puts and calls, and auction rate puts.
Restructuring advice. Our team provides legal risk analysis and reviews executed transactions in connection with potential or actual restructurings on behalf of derivatives counterparties, structured products arrangers and investors, and financial institutions and collateral managers.
Diverse Financial Sector Client Base
Clients of Holland & Knight's Derivatives Team include issuers, placement agents, underwriters, credit enhancers, insurance companies, power marketers and energy companies, utilities, credit protection sellers, liquidity providers, private banks/wealth management divisions, investment managers and end users.
Integrated Practice Support
Derivatives require a broad range of legal and financial marketplace knowledge. By drawing on our integrated practice groups and industry-based teams, Holland & Knight can help you navigate their complexities. When appropriate, members of our Derivatives Team work with other practice groups across the firm to ensure that all aspects of a matter or transaction are addressed. We take this multidisciplinary approach in an effort to provide the highly effective and efficient service you require.
