Dennis L. Holsapple: Lawyer with Kutak Rock LLP

Dennis L. Holsapple

Partner
Chicago,  IL  U.S.A.
Phone(312) 602-4116

Peer Rating
 5.0/5.0
AV® Preeminent

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Experience & Credentials Ratings & Reviews
 

Practice Areas

  • Derivatives and Investment Products
  • Swaps and Hedges
  • Derivative Counsel
  • Securitizations
 
University University of Iowa, B.A., with high distinction, 1975
 
Law SchoolUniversity of Michigan, J.D., magna cum laude, 1978
 
Admitted1978, Nebraska and U.S. District Court, District of Nebraska; 1987, New York; 1991, Illinois
 
Memberships 

Memberships and Affiliations

American, Illinois and Nebraska Bar Associations

 
BornCorona, California, March 10, 1953
 
Biography

Mr. Holsapple practices primarily in the areas of swaps, derivatives and securitizations in transactions with state and local governments and conduit borrowers and securitizations of municipal securities. He represents both dealers and government and corporate end users in swaps and other derivative transactions, including interest rate swaps and caps, total return swaps, liquidity swaps and commodity swaps. He also represents sponsors, sellers, residual investors, credit enhancers and liquidity providers in tender option bond programs and other securitizations of municipal securities and other assets.

Mr. Holsapple has represented parties in transactions involving, among other types of securities, bonds with embedded swaps, synthetic refundings involving forward purchase agreements, sales of call rights and options to require an issuer to issue refunding bonds in the future. His experience includes participation in the creation and development of variable rate demand bonds and pooled hospital financings. He also is experienced in questions of municipal bond secondary market disclosure (SEC Rule 15c2 12 in particular).

•Acting as counsel to a trust sponsor in creating a new type of floating rate trust receipt for a $1 billion transaction completed in eight days.
•Acting as counsel to the underwriter/purchaser in the first synthetic advance refunding transactions involving the sale by a municipal issuer of an option to cause the municipal issuer to issue refunding bonds at the future date when currently outstanding non-advance refundable bonds became callable.
•Representing several banks and investment banking firms in setting up and running programs to deposit fixed or floating rate bonds into trusts and issue floating rate and inverse floating rate trust receipts. He has also represented clients who acted as credit enhancement provider or purchaser of the inverse floating rate trust receipts in such transactions.
•Representing several clients, including both dealers and end users, in various types of swap, option and forward transactions, including synthetic refundings of various types, interest rate swaps, total return swaps and forward delivery and repurchase agreements.

News

July 28, 2010Dodd-Frank's Effects on Municipal Securities

July 2, 2010Kutak Rock's Chicago Office Celebrates 10 Years

Publications

April 9, 2013UPDATE: New Developments on Legal Entity Identifier Numbers for Swap Counterparties

As noted in our March 28, 2013 Client Alert, on March 15, 2013 the federal Commodity Futures Trading Commission (CFTC) issued an advisory which stated that all swap participants needed to obtain a Legal Entity Identifier number (also known as an LEI or CICI) prior to April 10, 2013. While the language of the CFTC's advisory was unambiguous, it conflicted with a prior CFTC regulation which provided participants in existing swaps until October 7, 2013 to obtain a CICI (although anyone entering into a new swap on or after April 10 must have a CICI when entering into the new swap). Although some CFTC staff have reportedly orally acknowledged the October 7 date is correct, the CFTC has not yet officially clarified the advisory. Client Alert

March 28, 2013New Developments on Legal Entity Identifier Numbers for Swap Counterparties

As part of the reporting regime under the Dodd-Frank Wall Street Reform and Consumer Protection Act, all parties to swap agreements (Swap Participants), including municipal issuers, need to have Legal Entity Identifier numbers (also known as LEIs or CICIs) that are used when dealers report swaps. Note this requirement even applies with respect to certain swaps that already have been terminated to the extent they were in effect on or after April 25, 2011. Read this client alert for more information about the need to apply for or certify LEIs. Client Alert

March 15, 2013Dodd-Frank and State and Local Government Swaps

In January 2013 the portions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA) regulating swaps began to be phased in, including provisions regulating swaps entered into by state and local governments. Swap dealers have begun contacting their governmental and other swap counterparties requesting that they execute various documents in response to DFA. The following is a brief summary of the DFA provisions which directly affect state and local governments' swaps, including new swaps, existing swaps or even, in some cases, terminated swaps. Client Alert

 
ISLN906401383
 


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Office Information

Dennis L. Holsapple

One South Wacker Drive, Suite 2050
ChicagoIL 60606-4614




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