Stikeman Elliott's securitization practice is international in scope and covers all facets of securitization. The firm has structured public, quasi-public and private transactions and has represented commercial banks, investment banks, other financial institutions, major corporations and special purpose entities in their capacities as purchasers, underwriters, issuers, credit enhancers, liquidity providers, trustees, originators and sellers as well as rating agencies in their ratings of these transactions.
Widely considered the leader in Canada's securitization and derivative products market, Stikeman Elliott has assisted Canadian and international clients in developing, structuring and implementing a wide variety of investment vehicles, structured finance transactions and financial products for over 20 years. Stikeman Elliott lawyers have structured securitization transactions involving every significant asset class, including:
- automobile, agricultural and construction equipment receivables
- commercial loans
- commercial/residential real estate loans
- commodities such as base metals and timber
- credit card receivables
- excess servicing amounts on underlying mortgage portfolios
- government receivables
- installment receivables
- insurance premium finance receivables
- lease receivables and residuals
- mutual fund management and administration fees
- retail receivables
- trade receivables
- wholesale receivables
The firm has been at the forefront in developing and improving securitization technology and applying that technology to accomplish, for the first time, the securitization of many financial assets or the securitization in more efficient forms of previously securitized assets. For example, Stikeman Elliott lawyers were instrumental in developing the legal technology to securitize leases and lease residuals, installment receivables, commodities, commercial real estate loans, mutual fund management fees and administration fees and excess servicing amounts on underlying mortgage portfolios. Stikeman Elliott has developed extensive transaction expertise in the asset securitization market in Canada. The firm has acted for the sponsor, lead underwriter, co-lead underwriter, rating agencies and other significant participants in a substantial number of asset-backed transactions in Canada.
In addition, the firm is developing, for its clients, structures to securitize, in many cases for the first time, various other types of assets, including real estate and commodities, and to underwrite these and other transactions through innovative forms of domestic and international instruments.
In addition, Stikeman Elliott has also been active in securitizations and other off-balance sheet financing techniques designed to help its clients achieve various objectives. For example, the firm was instrumental in developing the legal technology to enable certain of its financial institution clients to offer financing at commercial paper rates to their clients while better managing their capital adequacy ratios. Finally, the firm's leadership role in the asset securitization area is reflected in the requests by numerous bodies in Canada and internationally to chair or otherwise participate in conferences and to contribute papers for publication concerning asset securitization in Canada.