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Services Available
Lending Transactions
Lending transactions are a principal focus of our banking practice. We are experienced in numerous types of transactions involving the vast array of assets borrowers use as collateral such as accounts receivable, commodities, inventory, equipment, real estate, securities and other investment property partnership and limited liability company interests, commitments to contribute capital, intellectual property rights, and other intangibles. Our business clients frequently retain the firm when arranging for bank borrowings or other extensions of credit. As a result, our perspective encompasses the concerns of borrowers as well as those of lenders. The lending transactions that we regularly handle include bilateral and syndicated loans.
Syndicated Lending
The firm regularly represents major New York City banks acting as agents in syndicated loan transactions. Firm attorneys work closely with the agent in structuring, documenting, and implementing the transaction, which may be secured or unsecured and may involve letter of credit sub-facilities, swinglines, and multi-currency tranches as well as various pricing options.
Letters of Credit and Credit Support
Several major banks and other financial institutions regularly look to Moses & Singer in complex matters involving letters of credit, including litigation. The firm's clients are issuers of documentary, direct-pay, and standby letters of credit, as well as committed lines of credit, both to provide credit for commercial transactions and to provide credit support and liquidity for asset securitizations, IRBs, synthetic lease financings, and other structured financings. Firm attorneys are at the forefront of this area of banking law. One of our partners was a leader in the recent revision of the Uniform Commercial Code's letter of credit provisions and the drafting of the International Standby Practices (rules for standby letters of credit).
International Transactions
Moses & Singer lawyers regularly represent lenders, borrowers, trustees, and other parties in cross-border export, project, and structured financings. We are familiar with the requirements of export credit agencies and with the special risks of cross-border transactions, including exchange controls and other governmental actions. We frequently address the complex requirements for multi-jurisdictional collateralization and credit support.
Private Clients Lending
With experience representing both "high net worth" individuals, as well as banks focused on lending to such individuals and their families, we bring a valuable perspective to our representation of the "private clients" group for a number of our bank clients. This area includes not only bank lending to individuals and trusts, but also lending to partnerships and limited liability companies owning closely held businesses or engaged in the practice of a profession. We also have experience with equity swaps, derivatives, and other complex financial instruments and products that banks may provide to their private clients to enable them to diversify their assets, minimize risk, and obtain favorable income and estate tax consequences.
Intellectual Property Lending
Working together with the firm's nationally prominent intellectual property group, we are uniquely positioned to effectively represent lenders in transactions involving intellectual property and related intangibles. Moses & Singer has significant experience handling financing transactions involving collateral such as trademarks or patents, works of music, writing, or software protected under the federal Copyright Act.
Real Estate Lending
Drawing upon the resources of our real estate practice group, we regularly represent banks and other financial institutions in real estate transactions. Moses & Singer has extensive experience in all aspects of construction and mortgage finance, as well as more specialized areas such as economic development bonds, credit enhancement of tax exempt bonds, and collateralization of lease obligations. We have been retained in numerous financings for the hotel and casino industry, multi-family housing, office and mixed-use development projects, and REIT financings.
Mezzanine and Venture Capital Financing
Moses & Singer represents lenders, including banks and their venture capital subsidiaries, in financing new or developing businesses and mergers and acquisitions. We also represent lending institutions in mezzanine financing transactions, leveraged buyouts, debtor-in-possession financings, recapitalizations, commercial paper programs, and other structured transactions. We are experienced with the equity participation features, including warrants, and high-yield subordinated debt that are common in these types of transactions.
Asset Securitization
Our banking attorneys have participated on behalf of lenders and borrowers in the structuring and documentation of asset securitizations including credit card, car and commercial loan receivables, real estate, and trade receivables.
Corporate Trustees
We counsel banks and trust companies serving as corporate trustees, escrow agents, and collateral agents in connection with the issuance, amendment, and exchange of corporate debt securities and other kinds of financing. Our bankruptcy and banking attorneys have represented indenture trustees and successor trustees in cases where the issuer has defaulted by bankruptcy filing or otherwise.
Derivatives
We are familiar with the structural, regulatory, documentation, and insolvency aspects of derivatives transactions. We regularly document a variety of swaps, collars, and similar transactions as part of our finance practice and are familiar with requirements of the master agreements used for these matters. We have advised financial institutions on a range of novel OTC hybrid transactions, including those featuring foreign exchange, securities, and commodities elements, and are familiar with recent legislative developments such as the Commodity Futures Modernization Act of 2000. Finally we are actively involved in several bankruptcy cases in which closeout netting and related derivatives issues are central.
Custody and Securities Transfers
Moses & Singer attorneys have extensive experience in the intricacies of securities transfers and pledges as well as in the preparation of broker-dealer clearance agreements, broker-dealer loans, the use of foreign subcustodians, safekeeping and procedural agreements relating to futures and options on futures, credit extensions to mutual funds, and tri-party agreements involving custody of pledged securities, including repo programs.
The firm represents agent banks for syndicates extending multi-billion dollar safety-net credit lines and other credit facilities to clearing corporations in accordance with the mandates of the Securities and Exchange Commission and other regulators.
Restructuring and Bankruptcy
Moses & Singer attorneys have extensive experience in all aspects of restructuring and bankruptcy work, including representing official committees, DIP lenders, secured lenders, senior creditors, holders of subordinated debt, lessors, debtors, indenture trustees, and plan funders providing exit financing.
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