Howard Goldwasser is a Partner in the Finance Department of Kaye Scholer’s New York office. He has a broad range of transactional and debt capital markets experience focusing on structured finance and securitization of both traditional and non-traditional asset classes, including CDOs and CLOs (cash, hybrid and synthetic and both open-market and balance-sheet), “marketplace” loans, credit card receivables, auto loan receivables, trade receivables, airline ticket receivables, drug royalty receivables, corporate debt repackagings, covered bonds, credit derivatives, and structured-credit products. His clients include many of the world’s leading investment banks, commercial banks, non-bank lenders, hedge funds and investment managers.
Howard is recognized as a market-leading lawyer in the US CLO space. He has advised on the structuring of US CLOs and CDOs since the mid-1990s, when the US CLO and CDO markets were first emerging, and he has been advising both arrangers and collateral managers in the post-crisis “CLO 2.0” market since the very beginning of that market in the years just following the financial crisis. Howard and his team have done pioneering work in the areas of securitization risk retention, in particular around the creation of so-called “CMVs” (capitalized management vehicles) and “C-MOAs” (capitalized majority-owned affiliates) designed to enable collateral managers to source third-party debt- and equity- funding for their need to comply with both the US’s and the European Union’s securitization risk retention rules, and in the area of CLO warehousing, where they have designed traditional and non-traditional warehousing programs for CLO arrangers.
Howard is recognized as one of the pioneers in the introduction of covered bonds to the US capital markets, and he led in the implementation of a covered bond program for a US issuer. He has also advised on the structuring of covered bond programs for issuers based in Canada and Latin America.
In addition, Howard has represented banks and non-bank lenders in a variety of syndicated and bilateral financings, including project financings (construction and term phase), senior secured term loan financings, receivables and asset-based financings and LBO financings.
Howard is a member of the Structured Finance Industry Group and a member of the steering committee of the US Covered Bonds Council administered by SIFMA.
