Citing Growth in Cross-Border Securitization, Shearman & Sterling Adds Leading Expert in Field.NEW YORK--(BUSINESS WIRE)--Nov. 8, 1999-- Securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. Will Play a Key Role in the Convergence and Globalization globalization Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation of Capital Markets, Global Law Firm Asserts Gary Barnett
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . Securitization -- the issuance of securities backed by a pool of financial assets Financial assets Claims on real assets. that are shielded from certain credit risks -- has emerged as an important financing technique for companies to tap international capital markets. As these markets grow in size and sophistication so·phis·ti·cate v. so·phis·ti·cat·ed, so·phis·ti·cat·ing, so·phis·ti·cates v.tr. 1. To cause to become less natural, especially to make less naive and more worldly. 2. , cross-border asset securitization will become an increasingly significant factor, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Linda Quinn, the former SEC official credited with opening up the U.S. capital markets to foreign investors. "In addition to rapidly breaking down barriers between private lending markets and capital markets," added Ms. Quinn, the current co-head of Shearman & Sterling's corporate finance group, "securitization is playing a leading role in the convergence and globalization of capital markets." Stephen R. Volk, the firm's senior partner, said, "Firms with both a strong international presence and a strong securitization practice will be uniquely positioned to provide value-added services to a wide range of clients." Gary Barnett has expertise in a broad range of securitizations and structured-financing transactions, including: collateralized bond obligations Collateralized Bond Obligation (CBO) Investment-grade bonds backed by a collection of junk bonds with different levels of risk, called tiers, that are determined by the quality of junk bond involved. (CBOs); commercial mortgage-backed securities; and franchise loan, aircraft lease and emerging asset securitizations. He has represented issuers, underwriters, credit enhancers, investment managers, investors and other market participants in significant transactions for over a decade. "Gary Barnett has established himself as securitization leader," said Andrew Janszky, the corporate finance co-head and a partner at the firm. "He has worked on many groundbreaking transactions, including the earliest commercial mortgage loan deals, the first multi-class REMIC transaction and the earliest senior/subordinated structures." Shearman & Sterling's corporate finance group helped pioneer mortgage securitizations and is active in emerging market CBOs and aircraft lease, equipment lease and export receivables securitizations, among other asset classes. Founded in 1873, the firm currently has about 830 lawyers in 14 cities worldwide: Abu Dhabi, Beijing, Dusseldorf, Frankfurt, Hong Kong, London, Menlo Park, New York, Paris, San Francisco, Singapore, Tokyo, Toronto and Washington, D.C. |
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