Elana M. Hahn

Partner
Norton Rose Fulbright Canada LLP

Elana M. Hahn

Elana M. Hahn

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Biography

 

As a domestic and international finance lawyer, Elana Hahn is a trusted advisor to a range of clients – including various foreign and domestic financial institutions and investment funds acting as arrangers, dealers, and credit providers, as well as domestic and multi-national businesses, government agencies, trustees and service providers.

Ms. Hahn regularly advises clients on general corporate matters, regulatory matters and commercial contracts in the wholesale banking and consumer finance sphere. She represents clients in lending transactions, with a particular focus on real estate and asset-based lending (both syndicated and un-syndicated). She also has experience acting for issuers and underwriters in connection with private placements and debt programs. She has significant experience in sophisticated debt financing transactions and has led numerous multi-jurisdictional, international and domestic debt financing mandates.

Having spent a number of years working at leading US and UK firms in London, England, and practising in these areas in Canada, Ms. Hahn has particular strength in advising on domestic and cross-border debt capital markets, securitization and structured finance transactions. Ms. Hahn has extensive experience in all categories of the mainstream public securitization markets such as auto, credit card and mortgage loan receivables, with a particular focus on residential mortgage trading and residential mortgage-backed securitization. She is proficient in non-standard structured finance, including covered bonds, asset-backed commercial paper and esoteric securitizations, and in repackaging programs, credit-linked securities and other structured products.

As a result of her capital markets experience, Ms. Hahn advises on all aspects of wholesale banking and businesses that originate, finance, service and invest in financial assets, including regulatory compliance, warehouse and bridge finance, bank loans, repurchase agreements and synthetic risk transfers, servicing agreements, hedging and derivatives, portfolio trades, and advising businesses on receivables and consumer finance. She also has represented several clients who operate in the Fintech and payments industry.


Professional experience

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J.D., University of Toronto, 1998
A.B., Princeton University, 1995
  • Ontario 2000
  • Solicitor, qualified in England & Wales 2002

 

Ms. Hahn currently acts or has acted for the following clients:

  • Bank of America Merrill Lynch in its Canadian residential mortgage trading business, including advised BofA Merrill Lynch on its role as lead placement agent for the structuring and launch of an innovative residential mortgage-backed securities (RMBS) program for Home Trust Company, with an inaugural $500 million bond issuance – the Classic RMBS Trust program has been awarded the International Financial Legal  Review 1000 2020 Canada Capital Markets Deal of the Year and has been shortlisted as a Finalist for 2019 Capital Markets Deal of the Year in the Lexpert Canadian Law Awards
  • CMC Markets, a global contracts-for-differences, binary and forex trading provider, in its Canadian business
  • Canada Mortgage and Housing Corporation (CMHC) in its capital markets programs and affordable housing programs, including advised CMHC in its C$1.3bn loan facility agreement with Toronto Community Housing Corporation, which is the largest federal housing investment with a municipal partner in Canadian history
  • Credit Suisse International and Waterfall Asset Management, as mezzanine investors, in an innovative 2017 securitization acquisition financing in connection with the sale of the C$2.5 billion CitiFinancial Canada secured and unsecured consumer lending business, which became Fairstone Financial, to an investor group led by J.C. Flowers & Co. LLC and Värde Partners, and then the senior lenders Citibank and National Bank of Canada in connection with a financing related to the subsequently announced February 2020 agreement to sell Fairstone Financial to Duo Bank of Canada
  • Royal Bank of Canada in its global up to $25 billion re-packaging program and acted as Canadian counsel on its US Leo Funding I Limited collateralized loan obligation (CLO) bond program inaugural US$450 million issuance
  • Institutional asset manager, Waterfall Asset Management, as the lender and administrative agent on a C$250 million securitization asset-backed revolving credit agreement to the Canadian non-pay day loan unsecured consumer lending businesses of the CURO group, CashMoney and LendDirect
  • BNP Paribas in Canadian securities and financing transactions
  • BNY Mellon Group in its Canadian trust and agency businesses, including in securitization, bond, loan transactions
  • VeriFone in connection with its global electronic payment solutions business
  • 2020 IFLR1000 Canada – Canadian Capital Markets Deal of the Year Award for the Home Capital Classic RMBS program. Our firm, led by Elana Hahn, advised  BofA Merrill Lynch on the transaction
  • 2020 Canadian Law Awards – Excellence Award Recipient for Capital Markets Deal of the Year - Home Trust Company Residential Mortgage-Backed Securities Trust Program
  • International Financial Law Review 1000, Canada: Capital Markets: Structured finance and securitisation (Highly Regarded), 2021
  • Chambers Global –  Foreign Expert in Banking & Finance, Canada (UK) (2013–2015) and Capital Markets: Structured Finance, Securitisation & Derivatives (Experts Based Abroad) (UK) (2013–2015)
  • The Legal 500 Canada – Capital Markets (2015, 2016)
  • Shortlisted for Euromoney LMG Europe Women in Business Law Awards 2012 (Best in Structured Finance)
  • Chambers UK – Notable Practitioner in Capital Markets – Structured Finance (2008–2012), which noted Ms. Hahn  is "an accessible, extremely hard-working and hands-on partner"
  • The Legal 500 UK – Leading Individual in Finance – Derivatives & Structured Products (2009–2012) and Finance – Securitisation (2009–2012), which noted  Elana is "very attractive for complex legal issues"

 

  • "Basel Capital Rules", SFIG-IMN Structured Finance Canada Conference, Toronto, May 2019
  • "The Future Role of Banks in Canadian ABS under Basel III and Other Important Regulatory Developments," SFIG-IMN Structured Finance Canada Conference, Toronto, May/June 2016