Shawn KodesShawnKodes
Partner, Structured Credit
Shawn Kodes is the co-chair of the Asset-Backed Finance practice at Paul Hastings and is based in the New York office.
REPRESENTATIONS
AIG in a $1.8 billion commercial mortgage - backed securitization transaction.
Apollo Global Management as sponsor, and DonIen Fleet Lease Funding 2, as issuer, in Donlen''s $1.9 billion issuance of four classes of Series 2021-1 asset backed variable funding notes secured by a collateral pool of Donlen-managed vehicle leases.
Atlas SP as sole structuring agent and initial purchaser, and Piper Sandler & Co., as initial purchaser, in an inaugural $223 million issuance of 144A/Reg S ABS notes sponsored by ClickLease, secured by equipment and related leases.
Atlas SP as structuring agent, administrative agent and lender on various asset-backed warehouse facilities and 144 A securitizations.
Atlas SP as structuring agent and lender in connection with an inaugural $175 million revolving warehouse credit facility for World Acceptance, a publicly traded consumer finance company based in Greenville, South Carolina.
Barclays as arranger of Morglas 2026-1, a U.K. STS assessed securitization backed by a portfolio of unsecured personal loans originated by Admiral Financial Services t/a Admiral Money.
Blackstone in connection with the purchase and financing of a $1.1 billion portfolio of credit card receivables from Barclays.
Blackstone in connection with a forward flow origination partnership with KeyCorp’s Specialty Finance Lending group and the financing thereof.
Blackstone in connection with various consumer-related forward flow origination partnerships and the financing thereof.
Blackstone in connection with the development of a variety of direct lending products for Blackstone’s institutional and insurance clients.
Carlyle on a $250 million forward-flow agreement to purchase newly issued farm operating loans from FarmOp Capital, a leading provider of farm operating loans in the U.S.
Carlyle on a strategic investment into real estate finance solutions leading provider, North Bridge ESG , with a commitment to provide up to $1 billion to facilitate the origination of commercial property assessed clean energy (C-PACE) loans by North Bridge.
Carlyle in connection with a strategic partnership with KKR to purchase an approximately $10.1 billion portfolio of prime student loans from Discover Financial Services.
Carlyle in a $450 million forward flow agreement (and related financing) for the purchase of newly issued residential solar loans originated by Sungage Financial.
Carlyle in connection with the purchase and financing of a portfolio of manufactured home loans.
Carlyle in connection with the purchase and financing of a portfolio of agricultural loans.
CFG Partners on a $225 million securitization, its fifth and largest-ever securitization transaction.
CFG Partners in a $207 million ABS bond offering backed by personal consumer loans across multiple jurisdictions in the Caribbean — the first-ever multijurisdictional securitization of personal consumer loans and CFG''s first-ever securitization. The transaction was shortlisted for Structured Finance and Securitization Deal of the Year at the 2018 IFLR Americas Awards.
CFG Partners on a $222 million ABS bond offering backed by personal consumer loans across multiple jurisdictions.
CFG Partners in a $186 million ABS bond offering backed by personal consumer loans across multiple jurisdictions.
Citi, as lead initial purchaser, in One Main Financia l''s $760 million ABS bond offering backed by personal consumer loans — One Main''s first-ever rated term securitization of personal loans — and subsequent follow-on offerings.
Conduit manager in the establishment of new multi-seller ABCP conduit.
Credit Suisse, as lender and structuring agent, in an asset-backed financing to support the acquisition by a KKR-led consortium of a $1.1 billion music portfolio that includes more than 62,000 copyrights.
Credit Suisse and Wells Fargo, as joint lead bookrunners, in several ABS bond offerings backed by large loan receivables by Regional Management.
Credit Suisse, as administrative agent and a lender, in an asset-backed warehouse facility to finance the purchase of personal loans originated by Regional Management.
Credit Suisse, as administrative agent and a lender, in a $250 million accounts receivable securitization facility for Sinclair Broadcast Group-controlled Diamond Sports Group related to sports broadcast rights.
Credit Suisse, as administrative agent and lender, in an up to $246 million asset-backed revolving loan secured by a revolving pool of automobile leases for an auto leasing company.
Credit Suisse, as administrative agent and lender, in a $200 million asset-backed warehouse facility for Kabbage backed by small business loans.
Credit Suisse, as administrative agent and lender, in the establishment of a $100 million asset-backed warehouse facility for a specialty finance company, backed by short term auto leases.
Credit Suisse, as administrative agent and lender, in a $202 million asset-backed warehouse facility for Bluevine Capital backed by small business loans.
Credit Suisse, as administrative agent and lender, in the establishment of a $100 million auto loan securitization warehouse facility for a specialty finance lender.
Credit Suisse, as lender, in the establishment of an asset-backed financing facility for XXIII Capital backed by multimedia and television sports broadcasting rights.
Credit Suisse Securities, as administrative agent and lender, in a $100 million asset-backed warehouse facility for Republic Finance backed by secured and unsecured consumer loans.
Factoring company sponsor in the securitization of trade receivables.
Guggenheim Securities and Morgan Stanley, as joint-lead bookrunners and representatives of a consortium of initial purchasers, on a $1.3 billion ABS bond offering by Jack in the Box Funding in the first-ever whole business securitization of Jack in the Box, which overhauled its consolidated capital structure by securitizing substantially all of its revenue generating assets, including its intellectual property, franchisee royalty streams, real estate and related company-owned restaurants.
Guggenheim Securities, as structuring advisor and lead initial purchaser, in Lombard International Administration Services, $300 million ABS bond offering backed by insurance administration fees — Lombard''s first securitization of insurance administration fees and the first securitization of its kind.
Guggenheim Securities, as structuring advisor and lead initial purchaser, in Greenspoint Capital (a Stone Point portfolio company) $425 million ABS bond offering backed by insurance broker commissions.
Guggenheim Partners in the purchase and securitization of an equity interest in ALS through the issuance of fixed-rate deferrable notes.
Healthmarkets in the sale of their student loan portfolio.
Hertz in securitization-related aspects of the acquisition of DonIen, including establishment of a new master trust fleet lease securitization platform to refinance Donlen''s existing fleet financing facilities and establishment of conduit funded warehouse facility thereunder, as well as several term ABS issuances.
Island Finance, a Puerto Rico-based lender owned by J.C. Flowers, on an inaugural issuance of 144A/Reg S ABS.
A major financial institution in the review of, and advice with respect to, its multibillion dollar student loan ABS exposure.
Major rating agency in the creation of its asset-backed representations and warranties benchmarks for purposes of compliance with Rule 17g-7 of the Exchange Act, including a review of documentation for over 175 deals ranging from timeshare, cell tower, auto loans, auto leases, equipment loans, equipment leases, RMBS, CMBS, CLO, ABCP, small business loans, credit cards, consumer loans, student loans, structured settlements, fleet leases, dealer floorplan and railcars.
Security National Automotive Acceptance in the establishment of its first auto loan securitization warehouse facility and subsequent term ABS offerings.
A large insurance company on derivatives, CDO and securitization exposure.
A large insurance company in several billion dollars of CDO repackagings.
A large asset manager in various consumer and small business forward flow purchase facilities and the financing thereof.
Apollo in the structuring and offering of broadly syndicated CLOs.
Blackstone in the structuring and offering of broadly syndicated CLOs.
Brigade Capital Management in the structuring and offering of broadly syndicated CLOs.
Redding Ridge Asset Management in the structuring and offering of broadly syndicated CLOs.
Brightwood Capital Advisors in the structuring and offering of middle market CLOs.
Delaware Life Insurance, as collateral manager, in connection with a $305 million CLO.
A large insurance company in the creation of a joint venture with a CLO manager to facilitate the growth of its CLO platform and strategic long term investments in such platform.
A large insurance company in a $100 million middle market loan origination platform with a bank-affiliated asset manager.
A large insurance company in a $150 million asset-backed financing facility for MidCap Financial backed by participations in middle market corporate loans.
A large insurance company in a $130 million credit facility backed by middle market loans originated by MidCap Financial Services.
A large collateral manager in the structuring and offering of an offshore vehicle investing primarily in senior secured loans, managed by Apollo ST Fund Management.
Atalaya Capital Management in its acquisition of CLO manager Teles Asset Management from Tiptree Asset Management.
SoftBank Group on securitization-related matters in its $3.3 billion acquisition of Fortress Investment Group.
Thomas H. Lee Partners on securitization-related matters in the sale of THL Credit Advisors to First Eagle Investment Management.
Brookfield Asset Management in its approximately $4.8 billion acquisition of a 61.2% stake in Oaktree Capital Group.
Willis Towers Watson on securitization-related matters in its $1.3 billion acquisition of TRANZACT.
Irving Place Capital on securitization-related matters in its sale of Caribbean Financial Group Holdings to a consortium of investors led by BayBoston Capital .
CBAM in the sale of a portfolio of its assets to The Carlyle Group, in a transaction valued at approximately $800 million.
A large insurance company in a joint venture with, and financial support for, the CLO business of an asset manager, a provider of asset management, investment strategies, financial planning and advisory services, in exchange for a portion of CLO management fees.
Sanofi on pharmaceutical royalty-related matters in its tender offer to acquire Provention Bio, a provider of commercial-stage biopharmaceuticals focused on advancing the development and commercialization of investigational therapies that may intercept and prevent debilitating and life-threatening immune-mediated diseases for an equity value of approximately $2.9 billion.
F.A.B. Partners (n/k/a Centricus) on securitization-related matters in its $333 million take-private of CIFC.
General Electric Capital in its $32 billion sale to Wells Fargo of GECC''s global Commercial Distribution Finance business, North American Vendor Finance business and North American Corporate Finance business.
General Motors Financial on securitization-related matters in its $4.2 billion acquisition of the European, Latin American and China-based auto-finance and insurance operations of Ally Financial.
Various other strategic and private equity buyers and sellers in the use of securitization as acquisition financing.
Lehman Brothers on derivatives, COO and securitization matters related to its Chapter 11 bankruptcy.
MBIA Insurance in a $278 million asset-backed facility to refinance existing indebtedness.
MBIA in connection with the restructuring/remediation/commutation of its multibillion-dollar RMBS and CMBS exposure, which involved analysis of documentation, commutation discussions with counterparties and general advice.
Various corporate and asset manager clients in connection with restructuring, remediation and other strategic advice related to asset-backed or derivatives exposures and utilization of asset-backed financing structures in distressed situations.
* Matters may have been handled prior to joining Paul Hastings.
RECOGNITIONS
- Securitization: ABS, Chambers Global (USA – Nationwide) and
Chambers USA (Nationwide)
- Securitization: CLOs, Chambers Global (USA – Nationwide) and
Chambers USA (Nationwide)
- Next Generation Partner in Structured Finance: Securitization
Legal 500 US
- Highly Regarded” for Structured Finance and Securitization in the U.S.
IFLR1000
- Rising Star in Structured Finance and Securitization
Expert Guides
- Rising Star in Securitization
Law360