Mr. Donovan has an active securities and commercial finance practice with an emphasis on securitization transactions and structured financings.

In the asset securitization area, Mr. Donovan has represented issuers, underwriters and credit enhancers in connection with the issuance of securities backed by a wide range of assets, including bank loans, high yield bonds, commercial real estate loans, bank and private label credit card receivables, vehicle loan and lease receivables, warehouse loans to residential mortgage bankers, equipment leases, gold ore sales payments, television licensing payments and franchisee loans.  Significant recent transactions include a series of “market value” and “cash flow” CBO and CLO transactions, as well as several public, private and Euro-issue commercial mortgage loan securitizations involving the leveraging of two retail property REITs, financing the acquisition of a suburban office park portfolio, the restructuring of a multi-family housing property portfolio and the leveraging of managed pension fund retail and office property portfolios.  Mr. Donovan has also participated in the development of several innovative securitization structures including transactions utilizing non-investment grade debt tranches to increase the overall advance rate in a private label credit card receivables-backed commercial paper vehicle and the issuance of highly rated asset-backed money market preferred stock to capitalize a special purpose entity engaged in the financing of a $1 billion plus vehicle fleet lease portfolio.

Mr. Donovan’s securities practice includes the representation of investment managers and fund sponsors in connection with the organization, structuring and issuance of securities by a variety of domestic and international investment funds.   Mr. Donovan also has extensive experience advising major corporate and financial institution clients, both domestic and foreign, in connection with public and Rule 144A debt and equity securities issuances, credit facilities and commercial paper programs. 

Mr. Donovan joined White & Case directly after graduating from law school in 1982 and has spent his entire career in the firm’s New York office.