Arden, Glenn S.

Current Employment Position(s)

Partner

Lawyer Overview

Glenn Arden has been a leading practitioner in the structured finance and derivatives markets since their inception in the 1980s. He was an early advisor in the integration of swaps and other derivatives into securitization structures, culminating in a pioneering role in the creation of synthetic CDOs and other transactions utilizing credit derivatives. He is experienced in the representation of issuers, sponsors, sellers, underwriters, liquidity and credit providers, servicers, derivative providers, investors, and rating agencies in connection with the issuance of asset-backed and mortgage-backed securities and cash, hybrid, and synthetic CDOs. Glenn is also a member of the Firm's opinion committee with primary responsibility for legal isolation opinions, both under the U.S. Bankruptcy Code and U.S. banking laws.

Glenn's recent new issuance experience has included the first CMBS transaction under the government TALF program, multijurisdictional trade receivables facilities, and convertible debt and equity issuances coupled with equity derivatives transactions. As a member of the Firm's Financial Institutions Litigation & Regulation Practice, Glenn applies his experience to assisting clients in litigating and resolving disputes arising out of structured finance and derivatives transactions.

Glenn has been a frequent speaker on securitization and derivatives. He is the author of the chapter on "Derivatives and Securitization" in the treatise Securitizations: Legal and Regulatory Issues, published by Law Journal Press, and has served as an adjunct assistant professor of financial management at New York University, where he taught a graduate course in the legal analysis of structured finance.

Areas of Practice

• Banking & Finance
• Structured Finance/Derivatives
• Securitization
• Financial Institutions Litigation & Regulation
• Financial Services

Representative Cases

• Ambac Assurance issues $278 million of Secured Floating Rate Notes in a Rule 144A and Regulation S offering by Hanareum International Funding Limited
• Ambac Assurance issues $80 million of Class A and B Lease-backed Notes in a Rule 144A offering
• Ambac Assurance issues financial guaranty insurance policy in securitization of McDonald's franchisee loans
• Ambac Assurance serves as credit enhancer in $475 million securitization of Korea Deposit Insurance Corporation leases and loans
• Ambac Assurance serves as credit enhancer in issuance of notes by Korea First Mortgage No. 3 PLC , (2009)
• Ambac Assurance serves as guarantor in issuance of notes by Hsinchu International Mortgage Loan 1 Limited
• Ambac Assurance serves as guarantor in issuance of notes by Korea First Mortgage No. 1 Limited
• Bank of America completes securitization of medical equipment leases
• Bank of America participates in public offering of securitized notes
• Bank of America securitizes financing for gas pipeline compressors
• Chemical products manufacturer securitizes receivables
• DDR and subsidiaries close on first ever offering of CMBS under the Federal Reserve's TALF Program , (2009)
• Fabricated aluminum producer negotiates ISDA agreement
• Fifth Third sells Visa Class B Common Stock to Bank of America
• Finacity provides facility to aluminum producer
• Finacity securitizes trade receivables for CHC Helicopter , (2009)
• Finacity securitizes trade receivables for Northwest Airlines , (2009)
• Industrial Bank of Taiwan arranges securitization to finance the expansion of Chi Mei Optoelectronics
• Major energy and oil company amends securitization facility provided by Canadian Imperial Bank
• Major energy and oil company amends trade receivables securitization facility
• MBIA Insurance Corporation is creditor in subprime mortgage case
• Media company closes prepaid forward contract
• National City completes a public offering by National City Credit Card Master Trust for $425 million of Class A and Class B Floating Rate Asset Backed Certificates
• National City completes a public offering of $1.4 billion of 4.0% Convertible Senior Notes
• National City securitizes notes for public offering
• Project Lotus acquires, obtains financing for, and develops luxury mixed-use development in California , (2009)

West Practice Categories

Banking & Finance Law, Commercial Banks, Commercial Leasing, Credit Unions, Debtor/Creditor, International Banking, Lending & Secured Transactions, Loan Workouts, Mortgages & Foreclosures, Public Finance, Savings & Thrifts, State & Municipal Bonds & Financing, Venture Capital

Bar Admissions

• New York

Education

• Amherst College
• New York University

Published Works

• FDIC Delays the PPIP Legacy Loan Program to Focus on Public-Private Programs to Sell Assets from Failed Banks, 2009
• The Federal Reserve's Term Asset-Backed Securities Loan Facility ("TALF") Update: Legacy CMBS and Other Developments, 2009
• The Helping Families Save Their Homes Act of 2009 Significantly Changes the TARP, PPIP, and TALF Programs and FDIC Insurance, 2009
• The Federal Reserve's Term Asset-Backed Securities Loan Facility ("TALF") Update, 2009
• Commercial Real Estate CDO Litigation: The Credit Crisis' Next Wave?, 2009
• The Federal Reserve's Term Asset-Backed Securities Loan Facility ("TALF")—Expanding New Credit for Consumers and Businesses, 2009
• SEC Adopts Final Rules for Asset-Backed Securities, article also (i)selected as feature in Martindale-Hubbell's Counsel to Counsel Securities Alert & (ii)published in the March 31 & April 15, 2005 issue International Securitization & Finance Report, 2005
• SEC Proposes New Rules for Asset-Backed Securities, 2004
• Commodity Futures Modernization Act of 2000, 2001

Address

222 East 41st Street
New York, NY 10017-6702

Phones

1.212.326.7852 (Business Phone)

Faxes

1.212.755.7306 (Business Fax)

Emails

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Websites

http://www.jonesday.com