Securitization transactions have firmly taken root in Japan and now have a market size just behind those in the US and UK. Mori Hamada & Matsumoto has been a leading firm in this practice area since the beginning, acting in a number of transactions that were the first of their kind in Japan, including the first public offering of securities backed by commercial real estate, offerings of securities backed by residential mortgage loans utilizing a mortgage-on-mortgage (ten-teito) scheme, and offerings of securities backed by assets of a company undergoing reorganization proceedings.
The firm acts in transactions ranging from offerings of traditional securitized products backed by receivables, such as rents, credit card receivables, residential mortgages, and consumer loan receivables to more complicated transactions such as offerings of products backed by nonperforming loans and commercial mortgages as well as collateralized debt obligations. Lately, the firm has been handling increasingly innovative transactions involving intellectual property and whole business securitizations.
Mori Hamada & Matsumoto is also active in project finance, including large urban redevelopment projects, private finance initiative (PFI) projects, and recently working on new practice areas such as emissions trading, too.
The firm's expertise enables it to handle all aspects of structured finance transactions, from designing transaction schemes, analyzing or reviewing legal issues in connection with relevant laws and regulations, preparing agreements and disclosure documents, negotiating with rating agencies and other relevant players, preparing legal opinion letters, etc.
"Mori Hamada & Matsumoto is a leading securitization firm. The firm advised on the US$ 12.5bn SoftBank Mobile whole business securitization – one of the biggest and most high-profile deals of recent years." - Legal 500
"Mori Hamada & Matsumoto houses one of Tokyo’s pre-eminent structured finance practices under accomplished securitization lawyer Masanori Sato. Securitization has been a core strength of the firm for many years, with Sato and his team advising on traditional structured products backed by receivables, consumer loan receivables, offerings of products backed by non-performing loans and commercial mortgages, as well as collateralized debt obligations." - IFLR 1000
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