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Anthony R.G. Nolan

Practice Area Leader - Finance
+1.212.536.4843
Fax +1.212.536.3901

Anthony Nolan is a finance partner in the New York office and is a Practice Area Leader for the firm's global Finance practice. Mr. Nolan has a domestic and international practice that emphasizes lending transactions, fixed income securities, structured finance, structured products and derivatives. He often works at the intersection of finance and investment management, including trading and regulation of swaps and security-based swaps, loan trading, securities lending and repo as well as traditional borrowing and leverage transactions.

Mr. Nolan has significant experience in (i) securities laws affecting asset-backed securities, corporate debt securities and security-based swaps, (ii) commodity futures laws impacting swaps and commodity pool participants and (iii) banking laws that regulate the derivatives and securities activities of depository institutions and their affiliates including under the Volcker Rule.

Mr. Nolan regularly advises clients in transactions involving the financial services, energy, transportation, equipment leasing, manufacturing, health care and real estate industries. His structured finance experience encompasses cash and synthetic securitizations and covers a wide range of financial assets including commercial loans and loan participations, aircraft and equipment leases and many types of consumer assets. He also represents investment advisers in various aspects of structured finance, both as investors and as sponsors of CLOs and other securitizations.

Presentations 

  • True Lender and the Madden Case: Impact on Industry 2 Years In; Lendit USA 2017 Conference, New York, NY (March 2017)
  • New Special Purpose National Bank Charter for FinTech Companies: Evaluating the Benefits and Regulatory Pitfalls; Strafford CLE webinar (March 2017)
  • Securitization in Alternative Lending; Opal Marketplace Lending & Alternative Financing Summit, Dana Point CA (December 2016)
  • Structuring Concurrent Regulation S and Regulation D Securities Offerings: Navigating the Process, Closing the Deal, Integration of Concurrent Securities Offerings; Strafford CLE webinar (June 2016)
  • Legal and Regulatory Q&A; Lendit USA 2016 Conference, San Francisco CA (April 2016)
  • Marketplace Lending: The New Frontier; ABA Business Law Section Spring Conference, Montreal, Canada (April 2016),
  • Loan Participations and Purchased Loans; Strafford CLE webinar (March 2016)
  • Breakfast Roundtable Forum on US Marketplace Loan Investments; K&L Gates seminar, London, England (March 2016)
  • Securitization: Is There a Real Need for Securitization in Marketplace Lending? Altlend: Consumer 2016 Conference, San Francisco CA (January 21, 2016)
  • Managing Credit Risk in the Post-Lehman World: Protecting Investment & Finance Transactions Against Potential Bankruptcy Fallout; K&L Gates webinar (October 2015).
  • Resolution Stay Protocol: Background, Terms and Buy-Side Considerations; K&L Gates/AIMA webinar (September 2015)
  • The SEC Enforcement Division's Renewed Interest in Structured Products; K&L Gates webinar (June 20, 2014).
  • Understanding the Internal Organization and Reporting Requirements for Solar Issuers; Infocast Solar Securitization Conference, New York NY (September 2013) (moderator).
  • The Sun Also Raises: New Approaches to Raising Capital for Solar Energy; 2013 Annual Meeting of the Northwest Independent Power Producers Coalition, Union WA (September 2013).
  • The Changing Landscape for Derivatives; K&L Gates Eighth Annual Investment Management Conference on Global Legal and Regulatory Issues for Investment Managers and Funds; London England (July 2013).
  • Rating Agency Perspectives on Solar Securitization; Infocast Solar Power Finance & Investment Summit 2013; San Diego California (March 2013) (moderator).
  • Renewable Energy Financing: A Review of Current Developments in the Renewable Energy ABS Market; ASF 2013 Conference; Las Vegas Nevada (January 2013) (moderator).
  • Assessing the New Normal for Securitization: Risk and Regulatory Responses to the Financial Crisis; GARP Conference on Risk Based Banking and Capital Markets Regulation; New York New York (October 2012).
  • Advanced Topics in Derivatives; K&L Gates Investment Management Conference; New York New York (December 2012).
  • New Developments in Swaps Regulation Affecting the Investment Management Industry; K&L Gates West Coast Investment Management Conference; San Francisco California (November 2012).
  • CDO and CDS Litigation Trends; K&L Gates webinar (May 12, 2009).
  • Alternative Methods for Risk Transfer; Navigant Consulting Conference on International Arbitration: Managing Risk in High Growth / High Risk Markets; New York New York (September 10, 2008).

Professional Background

Mr. Nolan serves on the firm’s Opinion Committee. He served on the firm’s Management Committee from March 2013 through February 2017. He was a lecturer in law at Columbia Law School from 2007 to 2016.

Professional/Civic Activities

  • Lecturer in Law, Columbia Law School
  • SFIG Esoteric Assets Committee (co-chair)
  • SAPC working group on securitization of distributed solar energy receivables
  • ISDA, Documentation Committee; Energy, Commodities & Developing Products Committee

Banking and Asset Finance

  • Representing several private equity funds in warehouse financing of marketplace loan portfolios.
  • Representing a clean energy private equity fund in relation to financing activities.
  • Representation of a Brazilian Bank in connection with an umbrella corporate guarantee.
  • Representation of a West Coast media company in connection with the amendment and restatement of a $70 million first lien credit facility and a $45 million second lien credit facility.
  • Representation of a Native American Indian tribe in connection with an $85 million secured credit facility.
  • Representation of several mutual funds in negotiation of credit facilities and intercreditor arrangements designed to comply with the “single security” rules of Section 18 of the Investment Company Act.
  • Representation of a private fund complex in connection with the amendment and restatement of a $150 million variable funding note facility.
  • Representation of an electronics manufacturer in connection with a secured subordinated loan to an undersea cable operator in connection with seller financing arrangements.

Corporate Debt Securities

  • Advising an energy company in Trust Indenture Act issues relating to an exchange offer.
  • Representation of a Canadian Corporation in connection with a Rule 144A offering of US$55 million of senior unsecured notes.
  • Representation of a bottling and beverage distribution company in connection with a Rule 144A offering of $120 million principal amount of Rule 144A high-yield bonds.
  • Representation of a semiconductor manufacturer in connection with an offering of $45 million of convertible notes offered in offshore transactions under Regulation S.
  • Representation of an aircraft leasing company in connection with the issuance of $100 million of senior subordinated notes with attached warrants.
  • Representation of a manufacturing company in connection with its corporate commercial paper program.

Structured Finance

  • Representing indenture trustees and trustees of New York common law trusts in several securitizations of marketplace loans.
  • Advising servicer and trustee in several securitizations of residential and commercial mortgage loans.
  • Representation of the sponsor in several registered offerings and Rule 144A offerings of asset-backed securities backed by consumer automobile loan and lease receivables and backed by dealer floor plan receivables.
  • Representation of the sponsor in private placements of equity interests in several securitizations.
  • Representation of an international bank in connection with a managed total return swap facility referencing a portfolio of commercial loans sold by the total return receiver to a special purpose entity.
  • Representation of several investment advisers as collateral manager in CLO transactions and related warehousing transactions.
  • Representation of the arranger in several CLO transactions and related warehousing transactions.
  • Representation of a financial institution in connection with several total return swap transactions referencing portfolios of life settlement policies.
  • Representation of acquirers of specialty finance companies in connection with due diligence of target’s securitization activity.
  • Representation of several investment advisers in addressing issues affecting investments in structured finance securities, including CLO securities, auto ABS and RMBS.
  • Representation of several aircraft leasing companies in Rule 144a offerings of asset-backed securities backed by aircraft lease portfolios.
  • Representation of the arranger in a Rule 144A offering of asset-backed securities listed on the Irish Stock Exchange and backed by a mortgage on a credit tenant lease property in the UK.
  • Representation of parties in civil litigation and government enforcement matters arising from pre-crisis CDOs.

Swaps and Other Derivatives

  • Representation of end-users in several industries (including financial services, mining, electronics manufacturing and energy) on a wide range of swaps regulatory compliance under Title VII of the Dodd-Frank Act, including protocol adherence, clearing issues, collateral issues, reporting and analysis of applicability of swaps entity definitions and cross-border application of US law.
  • Representation of fund advisers in connection with commodity pool operator regulations, including characterization of Title VII instruments as swaps or other types of instruments.
  • Representation of end-users in documenting and negotiating standard swap documents including schedules, credit support annexes and master confirmations for a variety of bespoke equity and credit derivatives transactions.
  • Representation of a property developer in connection with the negotiated unwinding of interest rate swaps.
  • Representation of a financial services company as special derivatives counsel in connection with the sale of a structured products subsidiary.
  • Representation of several companies in connection with the effect of bankruptcy and debt restructurings on credit derivatives transactions.
  • Representation of several companies with respect to bankruptcies and sales of their swap counterparties.