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| | Since the 1988 ground-breaking FRENDS transaction (a CLO of highly leveraged bank loans sponsored by Continental Bank), Mayer Brown has been actively involved in collateralized debt obligation (CDO) transactions. Mayer Brown's CDO Practice Group has represented its clients in arbitrage and balance sheet, cash flow and market value, and funded and synthetic CDOs and in connection with various types of underlying collateral pools, including bank loans, high-yield bonds, asset-backed securities, mortgage-backed securities, bank trust preferred securities, distressed debt, emerging market debt and project finance debt. The group's experience also includes synthetic CDOs, utilizing credit-linked notes and credit default and total rate of return swaps.
Mayer Brown is nationally recognized for its securitization work and has expertise in all areas necessary to maintain a sophisticated, market-leading securitization practice, including the Investment Advisers Act, Investment Company Act, bank regulation, ERISA, tax and derivatives. The multi-disciplinary resources of the firm enable Mayer Brown to provide seamless, comprehensive advice to its CDO transaction clients. The CDO Practice Group represents sponsors, arrangers, collateral managers, investors, trustees and rating agencies in its varied CDO practice and frequently is engaged as overall transaction counsel. A broad client base complements the firm's technical legal expertise, enables the firm to keep abreast of CDO market developments and provides valuable information regarding market custom and practice, including insights as to appropriate compromises among various parties in interest in CDO transactions. The CDO Practice Group is comprised of over 35 lawyers located in our Charlotte, Chicago, Frankfurt, Hong Kong, London, Los Angeles, New York and Paris offices. Visit our Transactions section to see a list of selected CDO transactions on which we have advised since June 1997.
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