Clients rely on our Finance Group to help them navigate the business and legal complexities of novel and multi-dimensional debt financing transactions. Our versatile finance practitioners work closely with our mergers and acquisitions, securities, tax, real estate and bankruptcy lawyers to provide seamless advice and innovative solutions that address our clients' debt financing needs related to all types of transactions and capital structures.
Key Dodd-Frank Compliance Considerations for End-Users
August 31, 2012 Read the memo
The Dodd-Frank Act requires the CFTC and SEC to issue a multitude of rules and regulations to implement the detailed regulatory regime for swaps and security-based swaps outlined by the Dodd-Frank Act. To date, the CFTC has finalized most rules and issued compliance schedules with respect to many obligations under such rules. Phase-in of the new regime is set to begin on October 12, 2012 and will extend over several months. This alert outlines key considerations, timelines and action steps to aid corporate and investment fund end-users in their preparation to comply with the new regulatory regime.
Events & Publications
Eric Goodison Provides Legal Guidance in Thomson Reuters Practical Law Video
- Jun 17, 2020
- Publications
Eric Goodison Provides Legal Guidance in Thomson Reuters Practical Law Video
Corporate partner Eric Goodison recorded a video for Thomson Reuters Practical Law, “Covenant-Lite Loans,” which highlighted the importance of covenant-lite loans in the leveraged loan market and the risk of cross-default.
UPDATE: Federal Reserve Issues Revised Term Sheets for Main Street Lending Facilities
- Jun 09, 2020
- Publications
UPDATE: Federal Reserve Issues Revised Term Sheets for Main Street Lending Facilities
On June 8, the Fed issued revised term sheets governing the Main Street New Loan Facility, the Main Street Expanded Loan Facility and the Main Street Priority Loan Facility, together with an updated set of frequently asked questions.…
Congress Approves the Paycheck Protection Program Flexibility Act
- Jun 04, 2020
- Publications
Congress Approves the Paycheck Protection Program Flexibility Act
Congress recently passed the “Paycheck Protection Program Flexibility Act.” The act extends the forgiveness period and repayment deferment period for loans borrowed under the Small Business Administration’s Paycheck Protection Program …
CFIUS Proposes Changes to Mandatory Filing Requirements
- Jun 04, 2020
- Publications
CFIUS Proposes Changes to Mandatory Filing Requirements
On May 20, 2020, the Treasury Department issued proposed regulations to fundamentally change the mandatory filing requirement related to a foreign person acquiring control over, or making a covered investment in, a U.S. business…
UPDATE: Federal Reserve Issues Updated Guidance and Publishes Legal Forms and Agreements for Main Street Lending Facilities
- May 29, 2020
- Publications
UPDATE: Federal Reserve Issues Updated Guidance and Publishes Legal Forms and Agreements for Main Street Lending Facilities
The Federal Reserve has issued a number of legal forms and agreements, with accompanying instructions, that must be submitted by eligible borrowers and lenders participating in the Main Street New Loan Facility, Main Street Expanded…
Eric Goodison and Margot Wagner Contribute Article on M&A Financing to Lexis Practice Advisor
- May 26, 2020
- Publications
Eric Goodison and Margot Wagner Contribute Article on M&A Financing to Lexis Practice Advisor
Finance partner Eric Goodison and practice management counsel Margot Wagner co-authored an article, “Market Trends 2019/20: M&A Financing,” that appeared in Lexis Practice Advisor.
UPDATE: Federal Reserve Issues Revised Term Sheets and Guidance for Main Street Lending Facilities, Announces New Main Street Priority Lending Facility
- May 01, 2020
- Publications
UPDATE: Federal Reserve Issues Revised Term Sheets and Guidance for Main Street Lending Facilities, Announces New Main Street Priority Lending Facility
On April 30, the Fed issued revised term sheets for the two previously announced Main Street lending facilities, as well as a term sheet for the new Main Street Priority Loan Facility. The Fed expanded certain criteria for eligible…
LIBOR Cessation: ISDA Announces Preliminary Results of Consultation on Pre-cessation Fallbacks for LIBOR
- Apr 20, 2020
- Publications
LIBOR Cessation: ISDA Announces Preliminary Results of Consultation on Pre-cessation Fallbacks for LIBOR
On April 15, ISDA announced preliminary results of its second market consultation regarding the implementation of pre-cessation fallbacks for derivatives contracts referencing LIBOR. ISDA found that “a significant majority of…
Federal Reserve Announces Seven New or Updated Lending Facilities, Including Main Street Lending Facilities
- Apr 10, 2020
- Publications
Federal Reserve Announces Seven New or Updated Lending Facilities, Including Main Street Lending Facilities
The Federal Reserve announced seven lending facilities that will provide up to $2.3 trillion in loans to support the economy. We summarize the new facilities and updates to the terms of the previously announced facilities.
LIBOR Cessation: ARRC Announces Recommendation for Spread Adjustment Methodology for Cash Products
- Apr 09, 2020
- Publications
LIBOR Cessation: ARRC Announces Recommendation for Spread Adjustment Methodology for Cash Products
On April 8, 2020, the Alternative Reference Rate Committee (“ARRC”), a working group convened to help prepare for the cessation of the U.S. dollar London Interbank Offered Rate (USD LIBOR), announced that it had agreed on a…
COVID-19: LIBOR 2021 Cessation Timing Unchanged Though Planning Delays Expected
- Mar 29, 2020
- Publications
COVID-19: LIBOR 2021 Cessation Timing Unchanged Though Planning Delays Expected
Notwithstanding COVID-19-related market volatility and associated challenges faced by market participants, UK regulators have affirmed that the timetable for LIBOR’s anticipated cessation at the end of calendar year 2021 currently…
Proposed Regulations Issued for CFIUS Filing Fees
- Mar 24, 2020
- Publications
Proposed Regulations Issued for CFIUS Filing Fees
On March 4, 2020, the Treasury Department issued proposed regulations implementing the new authority under the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA”)[1] for the interagency Committee on Foreign Investment…
Coronavirus Pandemic Portends Heightened Risk of Financial Distress, Potential Changes in Restructuring Market
- Mar 17, 2020
- Publications
Coronavirus Pandemic Portends Heightened Risk of Financial Distress, Potential Changes in Restructuring Market
As the coronavirus pandemic continues to shake global markets, more companies will likely need to restructure to address liquidity constraints, right-size their balance sheets, or implement operational restructurings. Concurrently,…
COVID-19: Debt Buyback Considerations
- Mar 13, 2020
- Publications
COVID-19: Debt Buyback Considerations
As market reaction to the coronavirus outbreak leads to declining trading prices for bank loans and notes, many debt issuers and their private equity sponsors are considering repurchasing their outstanding debt to capture discount. We …
Supreme Court to Decide Constitutionality of CFPB
- Mar 02, 2020
- Publications
Supreme Court to Decide Constitutionality of CFPB
On March 3, 2020, the U.S. Supreme Court will hear oral argument to determine the constitutionality of the Consumer Financial Protection Bureau. Created by Congress as part of the Dodd-Frank Act, the CFPB is a multi-member,…
Final CFIUS Regulations Implementing the Foreign Investment Risk Review Modernization Act of 2018 Are Now in Effect
- Feb 27, 2020
- Publications
Final CFIUS Regulations Implementing the Foreign Investment Risk Review Modernization Act of 2018 Are Now in Effect
On February 13, 2020, final regulations implementing the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA”) (which became law on August 13, 2018) went into effect.
Global Regulators Press Market Participants to Prepare Now for LIBOR Transition
- Jan 22, 2020
- Publications
Global Regulators Press Market Participants to Prepare Now for LIBOR Transition
It is widely expected that within two years, by the end of 2021, the London Interbank Offered Rate (“LIBOR”) will no longer be published by LIBOR panel banks. Recognizing the potential impact LIBOR’s cessation could have on lenders,…
Paul, Weiss Announces Election of Seven New Partners
- Dec 06, 2019
- Firm News
Paul, Weiss Announces Election of Seven New Partners
Jonathan Ashtor, Rachael Coffey, Alexia Korberg, Caith Kushner, Kyle Seifried, Brette Tannenbaum and Austin Witt have been elected to the partnership, effective Jan. 1, 2020.
CFIUS Issues Proposed Regulations for Implementation of the Foreign Investment Risk Review Modernization Act of 2018 – Expanded Jurisdiction and New Mandatory Filings
- Oct 03, 2019
- Publications
CFIUS Issues Proposed Regulations for Implementation of the Foreign Investment Risk Review Modernization Act of 2018 – Expanded Jurisdiction and New Mandatory Filings
On September 17, 2019, the Treasury Department released two sets of proposed regulations designed to implement the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA”) (which became law on August 13, 2018), along with a …
Eric Goodison and Margot Wagner Contribute Article on Covenant-Lite Loans to Practical Law
- Aug 28, 2019
- Publications
Eric Goodison and Margot Wagner Contribute Article on Covenant-Lite Loans to Practical Law
Finance partner Eric Goodison and practice management counsel Margot Wagner co-authored an article for Practical Law, “Covenant-Lite Loans: Overview,” which discusses this type of financing’s features and examines the benefits and…
Eric Goodison and Margot Wagner Contribute Article on M&A Financing to Lexis Practice Advisor
- Jul 16, 2019
- Publications
Eric Goodison and Margot Wagner Contribute Article on M&A Financing to Lexis Practice Advisor
Finance partner Eric Goodison and practice management counsel Margot Wagner co-authored an article, “Market Trends 2018/19: M&A Financing”, that appeared in Lexis Practice Advisor.
Final Regulations on Section 956 and “Deemed Dividends” from Controlled Foreign Corporations
- May 29, 2019
- Publications
Final Regulations on Section 956 and “Deemed Dividends” from Controlled Foreign Corporations
On May 22, 2019, the Internal Revenue Service (the “IRS”) and the Department of the Treasury (“Treasury”) released final regulations (the “Final Regulations”) under Section 956 of the U.S. Internal Revenue Code of 1986, as amended…
Paul, Weiss Hosts Annual Private Equity General Counsel CLE
- May 15, 2019
- Events
Paul, Weiss Hosts Annual Private Equity General Counsel CLE
Paul, Weiss hosted its Annual Private Equity General Counsel CLE Program.
No-Deal Brexit: Emir Reporting Compliance Considerations
- Mar 15, 2019
- Publications
No-Deal Brexit: Emir Reporting Compliance Considerations
Article 9 of Regulation (EU) No. 648/2012 of the European Parliament and of the Council of 4 July 2012 on over-the-counter derivatives (“OTC Derivatives”), central counterparties and trade repositories (as amended, “EMIR”) requires…
Paul, Weiss Announces Election of New Partners
- Dec 07, 2018
- Firm News
Paul, Weiss Announces Election of New Partners
Paul, Weiss is pleased to announce that the following attorneys have been elected to the partnership, effective January 1, 2019: Justin Anderson, Robert Britton, David Carmona, Harris Fischman, Christopher D. Frey, Matthew B.…
U.S. Stay Regulations and the ISDA 2018 U.S. Resolution Stay Protocol
- Nov 27, 2018
- Publications
U.S. Stay Regulations and the ISDA 2018 U.S. Resolution Stay Protocol
U.S. regulations imposing stay requirements on the terms of swaps, repurchase agreements and other qualified financial contracts of globally systemically important banks (GSIBs) take effect on January 1, 2019 in support of a policy…
New Proposed Regulations on Section 956 and “Deemed Dividends” from Controlled Foreign Corporations
- Nov 01, 2018
- Publications
New Proposed Regulations on Section 956 and “Deemed Dividends” from Controlled Foreign Corporations
On October 31, 2018, the Internal Revenue Service (“IRS”) and the Department of the Treasury (“Treasury”) released proposed regulations (the “Proposed Regulations”) under Section 956 of the U.S. Internal Revenue Code of 1986, as…
CFIUS Adopts Pilot Program that Imposes Mandatory Filing Requirement for Foreign Acquisitions and Investments Involving Critical Technology in Certain Industry Sectors
- Oct 26, 2018
- Publications
CFIUS Adopts Pilot Program that Imposes Mandatory Filing Requirement for Foreign Acquisitions and Investments Involving Critical Technology in Certain Industry Sectors
On October 10, 2018, the Treasury Department announced that the interagency Committee on Foreign Investment in the United States (“CFIUS”) had used its new authority under the Foreign Investment Risk Review Modernization Act of 2018…
Jordan Yarett Contributes Article on Structured Finance to Lexis Practice Advisor
- Sep 25, 2018
- Publications
Jordan Yarett Contributes Article on Structured Finance to Lexis Practice Advisor
Finance partner Jordan Yarett contributed an article, “Structured Finance, Securitization and Derivatives,” to Lexis Practice Advisor.
The Financial Crisis 10 Years Later: Lessons Learned
- Sep 15, 2018
- Publications
The Financial Crisis 10 Years Later: Lessons Learned
Ten years after the collapse of Lehman Brothers, market participants and other global companies operate in a markedly changed regulatory enforcement and compliance landscape. This memorandum discusses the legal and business…
President Trump Signs CFIUS Reform Legislation
- Aug 13, 2018
- Publications
President Trump Signs CFIUS Reform Legislation
President Trump today signed the John S. McCain National Defense Authorization Act for Fiscal Year 2019 (“FY 2019 NDAA”) (H.R. 5515).
Eric Goodison and Margot Wagner Co-Author Overview of Covenant-Lite Loans
- Jul 19, 2018
- Publications
Eric Goodison and Margot Wagner Co-Author Overview of Covenant-Lite Loans
Corporate partner Eric Goodison and practice management counsel Margot Wagner published an overview of covenant-lite loans on the Thomson Reuters Practical Law website.
President Trump Decides Not to Impose New Foreign Investment Restrictions against China; Opts Instead to Support CFIUS Reform Legislation in Congress
- Jun 29, 2018
- Publications
President Trump Decides Not to Impose New Foreign Investment Restrictions against China; Opts Instead to Support CFIUS Reform Legislation in Congress
As an outgrowth of the Section 301 investigation that was conducted by the Office of the U.S. Trade Representative concerning China’s laws, policies, practices and actions related to technology transfer, intellectual property and…
Eric Goodison Authors Article on M&A Financing for Lexis Practice Advisor
- Apr 25, 2018
- Publications
Eric Goodison Authors Article on M&A Financing for Lexis Practice Advisor
Finance partner Eric Goodison authored an article titled “Market Trends 2017/18: M&A Financing” for Lexis Practice Advisor.
Valerie Radwaner Featured in LEADERS Magazine
- Jan 01, 2018
- Publications
Valerie Radwaner Featured in LEADERS Magazine
Deputy chair Valerie Radwaner was featured in a Q&A in LEADERS magazine’s latest issue.
Ryan McNaughton Discusses Esoteric Asset Securitization at PLI Seminar
- Dec 13, 2017
- Events
Ryan McNaughton Discusses Esoteric Asset Securitization at PLI Seminar
Corporate counsel Ryan McNaughton discussed esoteric asset securitization at the Practising Law Institute’s “New Developments in Securitization” seminar on December 13 in New York City.
ISDA Publishes T+2 Settlement Protocol
- Aug 08, 2017
- Publications
ISDA Publishes T+2 Settlement Protocol
Recently, the International Swaps and Derivatives Association published the ISDA 2017 OTC Equity Derivatives T+2 Settlement Cycle Protocol, the newest installment of ISDA’s mechanism aimed at facilitating the multilateral and…
President Trump Signs Sanctions Legislation Targeting Russia, North Korea and Iran, Creating New Compliance Risks for U.S. and Non-U.S. Companies
- Aug 03, 2017
- Publications
President Trump Signs Sanctions Legislation Targeting Russia, North Korea and Iran, Creating New Compliance Risks for U.S. and Non-U.S. Companies
President Trump recently signed into law H.R. 3364, the “Countering America’s Adversaries Through Sanctions Act.” The law significantly expands U.S. sanctions targeting Russia and restricts President Trump’s ability to lift them…
OFAC Breaks New Ground By Penalizing Non-U.S. Companies for Making U.S. Dollar Payments Involving a Sanctioned Country
- Jul 28, 2017
- Publications
OFAC Breaks New Ground By Penalizing Non-U.S. Companies for Making U.S. Dollar Payments Involving a Sanctioned Country
On July 27, 2017, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced a $12 million settlement with two Singapore-based companies over their use of U.S. dollar payments in connection with providing…
CFPB Adopts a Ban on Arbitration Clauses that Prevent Class Action Litigation
- Jul 19, 2017
- Publications
CFPB Adopts a Ban on Arbitration Clauses that Prevent Class Action Litigation
In a sweeping new rule published today in the Federal Register, the CFPB barred providers of consumer financial products and services from entering into or enforcing contracts that include arbitration clauses precluding class action…
Client Alert: Second Circuit Holds that Trust Indenture Act 316(b) Prohibits Only Non-Consensual Amendments to Core Payment Terms of Bond Indentures
- Jan 18, 2017
- Publications
Client Alert: Second Circuit Holds that Trust Indenture Act 316(b) Prohibits Only Non-Consensual Amendments to Core Payment Terms of Bond Indentures
On January 17, 2017, the Court of Appeals for the Second Circuit issued its long-anticipated opinion in Marblegate Asset Management, LLC v. Education Management Finance Corp., ruling that Section 316(b) of the Trust Indenture…
Ryan McNaughton to Address Esoteric Asset Securitization at PLI Seminar
- Dec 14, 2016
- Events
Ryan McNaughton to Address Esoteric Asset Securitization at PLI Seminar
Corporate counsel Ryan McNaughton will discuss esoteric asset securitization at the Practising Law Institute's "New Developments in Securitization" seminar on December 14 in New York City.
The CFPB Issues Guidance on Effective Compliance Oversight Over Sales and Other Incentives
- Dec 01, 2016
- Publications
The CFPB Issues Guidance on Effective Compliance Oversight Over Sales and Other Incentives
The Consumer Financial Protection Bureau recently published a bulletin outlining a demanding compliance standard for companies that use incentive programs as part of employees' compensation arrangements. In light of the bulletin and…
Litigation Partners Co-Author Article on the D.C. Circuit’s Decision on CFPB’s Constitutionality
- Oct 31, 2016
- Publications
Litigation Partners Co-Author Article on the D.C. Circuit’s Decision on CFPB’s Constitutionality
Firm chair Brad Karp and litigation partners Roberto Gonzalez, Susanna Buergel, Jane O'Brien and Elizabeth Sacksteder co-authored an article entitled, "D.C. Circuit Finds Single-Director Structure of the CFPB Unconstitutional."
Client Alert: Managing Mandatory Margin: ISDA's 2016 Variation Margin Protocol
- Sep 15, 2016
- Publications
Client Alert: Managing Mandatory Margin: ISDA's 2016 Variation Margin Protocol
The International Swaps and Derivatives Association, Inc. recently published the 2016 Variation Margin Protocol to assist market participants in adapting to a new margin regime for uncleared derivatives that will come into effect …
Client Alert: United States Recommends That the Supreme Court Deny Review in Midland Funding v. Madden
- May 26, 2016
- Publications
Client Alert: United States Recommends That the Supreme Court Deny Review in Midland Funding v. Madden
In its decision last year in Madden v. Midland Funding, LLC, the Second Circuit held that, after a national bank sells its loans to a third party, the National Bank Act no longer preempts state usury laws that would otherwise…
Client Alert: CFPB Proposes a Ban on Arbitration Clauses That Prevent Class Action Litigation
- May 09, 2016
- Publications
Client Alert: CFPB Proposes a Ban on Arbitration Clauses That Prevent Class Action Litigation
On May 5, 2016, the Consumer Financial Protection Bureau (CFPB) released a 377-page notice of proposed rulemaking that would prohibit, going forward, banks and a variety of other companies from including in contracts arbitration…
Client Alert: Financial Regulators Propose Incentive Compensation Rules under Dodd-Frank
- Apr 27, 2016
- Publications
Client Alert: Financial Regulators Propose Incentive Compensation Rules under Dodd-Frank
On April 21, 2016, the Securities and Exchange Commission, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Federal Housing…
Client Alert: Treasury Issues Inversion Regulations, Proposes Sweeping Changes to Debt/Equity Classification
- Apr 11, 2016
- Publications
Client Alert: Treasury Issues Inversion Regulations, Proposes Sweeping Changes to Debt/Equity Classification
On April 4, 2016, as the most recent step in its ongoing battle against inversion transactions, the U.S. Department of Treasury issued both new temporary and proposed regulations addressing certain inversion and post-inversion…
Jordan Yarett Authors Article in The Journal of Structured Finance
- Mar 07, 2016
- Publications
Jordan Yarett Authors Article in The Journal of Structured Finance
Corporate partner Jordan Yarett authored an article in The Journal of Structured Finance's winter 2016 issue.
Bob Zochowski Speaks at ABS Vegas Conference
- Feb 28, 2016
- Events
Bob Zochowski Speaks at ABS Vegas Conference
Corporate partner Bob Zochowski spoke on a panel at the ABS Vegas 2016, the largest capital markets conference in the world.
Private Equity Digest - Acquisition Financing in 2015: A Brief Year in Review
- Feb 18, 2016
- Videos
Private Equity Digest - Acquisition Financing in 2015: A Brief Year in Review
Volatility in financing markets is having a major impact on private equity transactions.
Eric Goodison Analyzes Trends in Mid-Market Loans in Practical Law Journal
- Feb 01, 2016
- Publications
Eric Goodison Analyzes Trends in Mid-Market Loans in Practical Law Journal
Corporate partner Eric Goodison contributed to Practical Law Journal's year in review.
Awards & Recognition
Paul, Weiss Partners Receive Law360 Distinguished Writing Award
- Feb 26, 2019
- Awards
Paul, Weiss Partners Receive Law360 Distinguished Writing Award
Firm chairman Brad Karp, corporate partner Mark Bergman and litigation partners Susanna Buergel, Roberto Gonzalez, Jane O’Brien and Elizabeth Sacksteder have been selected to receive the Law360 Distinguished Writing Award at the 2019…
Valerie Radwaner Recognized at Corporate Counsel’s National Women in Law Awards
- Aug 15, 2018
- Awards
Valerie Radwaner Recognized at Corporate Counsel’s National Women in Law Awards
Corporate partner and Deputy Chair Valerie Radwaner was recognized in the Law Firm Transformative Leadership category of Corporate Counsel’s Women in Law Awards.
Paul, Weiss Recognized by M&A Advisor
- May 07, 2018
- Awards
Paul, Weiss Recognized by M&A Advisor
Paul, Weiss was recognized in two categories at the M&A Advisor’s 10th annual International M&A Awards.
Jordan Yarett and Taurie Zeitzer Deal Recognized by the Financial Times
- Dec 13, 2017
- Awards
Jordan Yarett and Taurie Zeitzer Deal Recognized by the Financial Times
Paul, Weiss was commended in the “Accessing New Markets and Capital” category of the Financial Times’ annual feature recognizing the year’s most innovative North American law firms and lawyers.
Paul, Weiss Partners and Matters Recognized By FT Innovative Lawyers - North America
- Dec 13, 2017
- Awards
Paul, Weiss Partners and Matters Recognized By FT Innovative Lawyers - North America
Litigation partner Nick Groombridge, corporate partner Scott Barshay and Paul, Weiss were recognized by the Financial Times in an annual feature recognizing this year’s most innovative North American law firms and lawyers.
Paul, Weiss Wins Asian Lawyer Emerging Markets Award for M&A
- Nov 29, 2016
- Awards
Paul, Weiss Wins Asian Lawyer Emerging Markets Award for M&A
The Asian Lawyer honored Paul, Weiss with an Emerging Markets Award in the "M&A Deal of the Year: Other Sectors" category for our role in Yokohama's $1.2 billion acquisition of Alliance Tire Group.
Paul, Weiss Shortlisted for Two Emerging Markets Awards by The Asian Lawyer
- Oct 27, 2016
- Awards
Paul, Weiss Shortlisted for Two Emerging Markets Awards by The Asian Lawyer
Paul, Weiss has been shortlisted by The Asian Lawyer in two categories in its 2016 Emerging Markets Awards.