Cadwalader, Wickersham & Taft LLP, an international law firm, has formed a covered bonds practice group to serve global clients entering the space and to advocate on behalf of removing regulatory impediments to the issuance of covered bonds by U.S.-based financial institutions.
‘The evolving financial markets have focused attention on alternative means of financing assets in the capital markets, and covered bonds seem certain to become a key technique available to those seeking financing for residential or commercial lending businesses,’ notes Robert O. Link Jr., Cadwalader's managing partner and chairman of the firm's capital markets department. ‘This initiative is rooted in Cadwalader's legacy as one of the most respected capital markets legal advisors to the financial services industry.’
‘While covered bonds backed by U.S. assets are a developing area, there can be no doubt that the tradition of innovation that has characterized U.S. mortgage finance will lead to as robust a covered bond market as we have seen in Europe,’ adds partner Conor Downey, who has advised on a number of such transactions in Europe.
The firm will host a briefing for clients and friends on Sept. 25 to discuss the development of the U.S. covered bond market.
Source: Cadwalader, Wickersham & Taft LLP