Toronto office advised Waterfall Asset Management on the securitization acquisition financing

May 2017

Client: Waterfall Asset Management

We are representing Waterfall Asset Management/ Credit Suisse as subordinated lender on the securitization acquisition financing in connection with the sale of the C$2.5bn CitiFinancial Canada secured and unsecured consumer lending business of Citibank to an investor group led by J.C. Flowers & Co. LLC and affiliates (“J.C. Flowers”), and Värde Partners (“Värde”). National Bank Financial Inc. was lead financial advisor to J.C. Flowers and Värde.  Barclays Capital Inc. also served as financial advisor to the buyers. It is an innovative/ unique structure of an acquisition financing structured by way of a securitization.