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Chicago, Illinois [March 3, 2011] UFT Commercial Finance, LLC (“UFTCF”) today announced the formal engagement of DLA Piper, LLP as legal counsel for upcoming Master Credit Participation Certificate (CPC) transactions.
DLA Piper, LLP is one of the largest global law firms with clients ranging from Global 1000 and Fortune 500 enterprises to emerging companies that are developing industry-leading technologies, such as UFTCF. With offices stationed all over the world, UFTCF believes that DLA Piper makes an exceptional alliance as the UFTCF platform of both originators and participants makes its way into the global credit marketplace.
“My team and I are pleased to be assisting UFT Commercial Finance as they roll out their CPC vehicle and others in their suite of financial products,” said Ron Borod, a partner at DLA Piper and a specialist in securitizations and structured credit.
UFTCF and DLA Piper are initially working together on further refinements of both the Receivables CPC and the Asset-Backed Insurance Credit or “ABIC” to enhance scalability, efficiencies and address structural contingencies. “We are very excited to be allied with the experts at DLA Piper with a goal of making the CPC a highly effective and useful tool for the credit market,” said Joanne Marlowe, one of the founding partners of UFTCF and its Managing Director. “Although we are focusing on the two CPC products that are on the shortest end of the yield curve, we expect to soon expand the scope of our work with Ron’s [Borod] team to include UFTCF’s proprietary methodology for asset aggregations as an alternative to conventional securitization models. Their input and skill set will be invaluable.”
The CPC is a new class of financial instrument that is designed to create a standardized foundation for the processing and free-trade of potentially any commercial credit transaction. A CPC, based on the concept of traditional loan participations, represents a fractionalized participation interest in a singular whole loan that is part of any one of a number of qualifying commercial credit classes. As a result, the CPC has been engineered with an array of different risk profiles that are intended to drive attractive yields while being responsive to the needs of a relatively illiquid credit marketplace. By the application of a standard and scalable credit on-boarding process, a series of CPC classes that share consistent governance attributes and traits while still reflecting the core nature of the underlying credit can be availed. Standardized credit processing is expected to manifest a certain fungible nature to each instrument and, upon reaching a certain critical mass of CPCs in distribution, enable the ready trade of CPCs within an exchange marketplace.
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DLA Piper is a global law firm with partners across Asia, Europe, the Middle East and the United States.
UFT Commercial Finance is an alternative credit solutions company and the Network Manager of the Master Participating Lender Network. It is a privately held company with its headquarters in Chicago, Illinois. Learn more about UFT Commercial Finance at www.uftcf.com.
For more information, contact mediarelations@uftcf.com
Notice: The information contained in this announcement is only accurate as of the date of its publication and release, and may contain certain forward-looking statements based upon anticipated events that may or may not come to pass. The company makes no representation or warranty as to the correctness or accuracy of the information contained herein, and is under no obligation to update this information at any time after the date of release.
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