Frank P. Nocco is a partner in the New York office of Weil, Gotshal & Manges. Mr. Nocco is head of the firm's Structured Finance/Derivatives practice and works closely with his counterparts in London and in other offices worldwide. He represents issuers, underwriters, placement agents, credit enhancers, liquidity providers, investors and collateral managers in structured and corporate securities offerings, both in the US and abroad.
As part of his practice, he has worked on many ground-breaking transactions, including:
- the first asset-backed medium term note offering to be effected by a bankrupt company
- the development of the “rental car fleet financing structure” which is regularly used to raise billions of dollars of financing for rental car companies such as National, Alamo, AVIS/Budget and Dollar-Thrifty
- the first cross border securitization involving Hong Kong dollar denominated credit card receivables
- the first securitization of airline ticket receivables
- the first use of a public shelf registration statement in connection with an offering of asset-backed securities
- the first securitization of trade receivables financed in the medium term note market
- the first cross border securitization involving Canadian dollar denominated auto dealer floorplan financing receivables
- the first securitization of home equity loans to employ a senior/subordinate master trust structure
Generally, Mr. Nocco has participated in the securitization of auto loans, commercial loans, student loans, franchisee loans, mortgage loans, equipment loans, credit card receivables (both MasterCard/Visa and private label), trade receivables, equipment and vehicle leases, high-yield and other non-conventional assets, such as royalty receivables, oil and gas production payments, synthetic securities and various other derivative products, insurance premium finance contracts and intellectual property. He is experienced in structuring single-seller and multi-seller commercial paper vehicles, owner trusts, master trusts, grantor trusts, REMIC’s and off-shore and domestic special purpose vehicles that can issue a variety of debt and equity securities, including collateralized loan obligations (“CLOs”) and collateralized debt obligations (“CDOs”). He also has experience with other kinds of securities work such as initial public offerings and subordinated debt offerings.
Mr. Nocco is a member of the firm’s Financial Regulatory Reform Working Group. He provides advice to clients in connection with the various provisions of recent reform legislation impacting structured products and the securitization industry.
Mr. Nocco was named a leading practitioner in (i) the area of Capital Markets – Securitisation in Chambers Global 2004-2013 and in Chambers USA 2004-2013, (ii) Securitization and Structured Finance in the 2013 edition of Best Lawyers in America, (iii) the 2003-2004 Edition of Law Business Research’s International Who’s Who of Business Lawyers, and (iv) Euromoney Legal Media Group’s Guide to the World’s Leading Structured Finance Lawyers. Mr. Nocco has spoken at various industry conferences, most recently at the ABA Annual meeting on the topic of “True Sale and Non-Consolidation Opinions.”