Ed is a partner in White & Case's New York office and a member of the Firm's Americas Capital Markets Regional Section and the Global Derivatives Interest Group. Ed focuses on derivatives transactions over a wide spectrum of asset classes, including cash and synthetic fixed income, rates, equity, credit, commodity and FX products. He has broad experience structuring, negotiation, and documentation of derivatives in connection with financing, investment and agency trading. He also frequently advises clients on futures, OTC clearing and prime brokerage documentation, as well as related netting, margin and other regulatory issues. Ed's practice also includes interpretation and implementation of the Dodd-Frank Act and related regulations affecting broker dealers, futures commission merchants, investment funds, end-users and other participants in the securities, futures and swaps markets. His experience extends to assisting clients in the derivatives aspects of financing, dispute resolution and mergers and acquisition.
Represented an investment fund in connection with preferred equity financing provided to 99 Cents Only Stores LLC, the leading operator of extreme value stores in California and the Southwestern United States, which was consummated on December 22, 2020.
Represented Saudi Arabian Oil Company (Saudi Aramco), the world's largest oil company by production, in its US$69.1 billion acquisition of a 70% stake in Saudi Basic Industries Corporation (SABIC), one of the world's largest chemicals companies, from the Public Investment Fund, the sovereign wealth fund of the Kingdom of Saudi Arabia. SABIC is headquartered in Riyadh and has more than 33,000 employees across 50 jurisdictions. Investors own the remaining 30% stake in SABIC through shares traded on the Saudi stock exchange (Tadawul). The deal is a major step in Saudi Aramco's strategy of expanding its refining and petrochemicals business and remains subject to certain conditions, including regulatory approvals.
Represented Varonis Systems, Inc. in connection with its $253 million offering of 1.25% convertible notes due 2025 and related capped call transactions.
Represented Invenergy and Energía del Paciﬁco, Ltda. de C.V., as sponsor and borrower respectively, in the development and ﬁnancing of a 378 MW power plant in El Salvador and its related infrastructure, including a ﬂoating storage and regasiﬁcation unit (FSRU) permanently moored through a modiﬁed spread mooring system for liqueﬁed natural gas (LNG) delivery, storage and regasiﬁcation, as well as a natural gas pipeline running from the FSRU to the power plant. The transaction has been recognized as "Infrastructure Financing of the Year: Central America" by LatinFinance Project & Infrastructure Finance Awards.
Advise issuers on convertible bond and preferred shares issuances.
Represent U.S. and international financial institutions, private equity funds, hedge funds and end-users on prime brokerage, futures and ISDA-based and other derivatives trading documentation.
Counsel swap dealers in recovering against defaulting counterparties on foreign exchange trades documentations and the ISDA Master Agreements.
Advise market participants on preparation for LIBOR benchmark replacement.
Represent financial institutions on the FICC Sponsored Repo Platform including documentation to implement trading.
Advise U.S. and international FinTech companies on foreign exchange, interest rate and other derivatives and payment issues.
Advised market participants on interpretation of ISDA Credit Derivatives Definitions and the auction process, including whether a Credit Event has occurred and the deliverability of certain debt obligations.
Advised market participants on derivatives claim trading.
Represented corporate clients in unwinding hedges relating to convertible bonds.
Lecture on International Banking, March 31, 2020 and April 7, 2020: George Washington School of Business, Washington, DC, Guest Lecturer
Business Roundtable with the Prime Minister of Estonia, October 2019: Baltic American Chamber of Commerce
"Financial Products and Investment Strategies", October 25, 2018: Business Law for Lawyers, New York City Bar Association, New York, Speaker
CFTC Jurisdiction Over Cryptocurrency: Implications for Industry Participants, February 2020, The Banking Law Journal