Dennis L. Holsapple

(312) 602-4116
Partner
(312) 602-4101 Fax
Dennis.Holsapple@KutakRock.com

Mr. Holsapple practices primarily in the areas of swaps, derivatives and securitizations in transactions with state and local governments and conduit borrowers and securitizations of municipal securities. He represents both dealers and government and corporate end users in swaps and other derivative transactions, including interest rate swaps and caps, total return swaps, liquidity swaps and commodity swaps. He also represents sponsors, sellers, residual investors, credit enhancers and liquidity providers in tender option bond programs and other securitizations of municipal securities and other assets.

Mr. Holsapple has represented parties in transactions involving, among other types of securities, bonds with embedded swaps, synthetic refundings involving forward purchase agreements, sales of call rights and options to require an issuer to issue refunding bonds in the future. His experience includes participation in the creation and development of variable rate demand bonds and pooled hospital financings. He also is experienced in questions of municipal bond secondary market disclosure (SEC Rule 15c2 12 in particular).

  • Acting as counsel to a trust sponsor in creating a new type of floating rate trust receipt for a $1 billion transaction completed in eight days.
  • Acting as counsel to the underwriter/purchaser in the first synthetic advance refunding transactions involving the sale by a municipal issuer of an option to cause the municipal issuer to issue refunding bonds at the future date when currently outstanding non-advance refundable bonds became callable.
  • Representing several banks and investment banking firms in setting up and running programs to deposit fixed or floating rate bonds into trusts and issue floating rate and inverse floating rate trust receipts. He has also represented clients who acted as credit enhancement provider or purchaser of the inverse floating rate trust receipts in such transactions.
  • Representing several clients, including both dealers and end users, in various types of swap, option and forward transactions, including synthetic refundings of various types, interest rate swaps, total return swaps and forward delivery and repurchase agreements.