Marc A. Horwitz regularly advises domestic corporations and multinational financial institutions on all aspects of derivatives and structured financial products. Legal 500 United States recognized him as one of the leading individuals in the US in derivatives and structured products in both 2008 and 2009.

Prior to joining DLA Piper, Mr. Horwitz was head of the North American derivatives practice at Baker & McKenzie.

Practice Focus

Mr. Horwitz concentrates his practice on representing domestic corporations, multinational banks and insurance companies in swap and derivative transactions as well as other financial products. He also represents corporations, banks and other financial institutions - both local and multinational - in securitization, general lending and other structured finance transactions as well as custody arrangements, global and domestic repurchase agreements, securities lending arrangements and exchange traded futures.

Representative Legal Matters

• Regularly advises major US, non-US and multinational banks, corporations and insurance companies on the documentation, settlement and closeout of swap and other over-the-counter derivative transactions (including currency, interest rate, equity, commodity, carbon emissions and credit derivative transactions) with major dealers pursuant to the ISDA Master Agreement and related documentation.
• Regularly advises major US, non-US and multinational financial institutions and corporations on documentation of domestic and global repurchase agreements, custody arrangements, collateral management arrangements, securities lending arrangements and futures, options and other securities account agreements.
• Advised major institutional investors and collateral managers in restructuring numerous collateralized debt obligation (CDO) and similar transactions involving synthetic assets.
• Advised more than 30 clients in the close-out and settlement of derivatives contracts with various Lehman Brothers entities.
• Advised a major global financial institution in restructuring its US$69 billion credit default swap portfolio with ACA Capital Holdings.
• Advised major insurance companies and pension plans in multiple derivatives-driven structured transactions in Asia, Latin America and the US across multiple asset classes - including debt, equity and fixed income.
• Advised US corporations on structured equity derivative transactions, including:
  • Advising a major US corporation on a $1.8 billion accelerated stock repurchase transaction.
  • Advising a major US corporation on a $200 million collared accelerated stock repurchase transaction.
  • Advising a major US corporation on a $300 million accelerated stock repurchase transaction with an embedded volatility option.
  • Advising a major US corporation on a variable equity share forward transaction that enabled the corporation to lock in a price range for the future repurchase of approximately $1.7 billion of its own common stock.

• Advised major multinational financial institutions in creating standard forms of Thai law-compliant investment products resembling single-name credit default swaps.
• Advised a major French bank as agent in a commercial paper program backed by receivables from dealer loans by an agricultural equipment cooperative.
• Advised an investment fund in financing a US$250 million life settlement fund.
• Assisted hedge funds in structured finance transactions involving life settlements.
• Assisted banks, hedge funds and portfolio companies in structured derivatives transactions involving carbon emissions.