Alston & Bird’s Structured & Warehouse Finance Team actively represents issuers, arrangers, lenders, equity investors, and collateral managers in collateralized loan obligation (CLO) and collateralized debt obligation (CDO) transactions.
We advise in the structuring, negotiation, and documentation of CLOs at every stage of development – from engagement and warehousing to closing – in new-issue, refinancing, reset, reissue, and upsize transactions involving broadly syndicated loan (BSL) and middle market loan (MML) portfolios, both actively managed and static. We also provide advice and execution capabilities to bank arrangers in structured term financing facilities for leveraged loan portfolios.
Our platform is thoroughly integrated with, and has dedicated support from, Alston & Bird’s securities, bankruptcy and restructuring, tax, UCC, ERISA, Investment Company Act, and derivatives practices, enabling us to address the full array of legal issues that arise in CLO and related transactions.
We also actively monitor regulatory developments for their impact on CLOs, including those involving the Volcker Rule and U.S. and EU credit risk retention requirements, and we leverage the knowledge of our U.S. and London-based colleagues to provide clients with state-of-the-art advice. In addition, our team has acted as drafting counsel for multiple retention interest financing facilities.
Our team is in regular communication and collaboration with our corporate debt and distressed debt and claims trading teams, which allows us to provide timely insight on market trends and develop creative solutions for legal and structuring issues.