Derivative Counsel

  • Overview
  • Attorneys

Kutak Rock lawyers represent major market participants in a wide array of derivative transactions, both as part of new issues and in conjunction with secondary market issues unrelated to the issuance of new bonds. Our firm has expertise with such derivative products as tender option bonds, guaranteed investment contracts, interest rate swaps, forward placements, swaptions, detachable calls, leveraged floaters with embedded swaps and caps, portfolio dumps, coupon strips and single put transactions, among other types of structures.

For more than 30 years our firm has been deeply involved in the development of derivative products used by market participants, including some of the first interest rate swaps for municipal products in 1979, as well as interest rate collars, ceilings and floors. In addition, we have been instrumental in the creation of various coupon stripping devices. Our attorneys were involved in some of the first total rate of return swaps secured with real estate and the first tax credit syndications with guaranteed returns covered under standard ISDA documentation.

Kutak Rock currently serves as transaction counsel for a highly active tender option bond program of a major national bank. Since 1998 we have provided services for this client in more than 1,000 tender option bond transactions having an aggregate principal amount of approximately $15 billion. We also currently represent numerous national banks and financial institutions acting as swap providers in connection with interest rate swaps, total rate of return swaps, puts, caps, collars and a variety of innovative swap and other derivative products.