News & Announcements

Weil Advises Lendmark on its First-Ever Securitization of Personal Loans

A Weil team, led by New York partner Frank Nocco, advised Lendmark Financial Services (Lendmark), a wholly-owned subsidiary of The Blackstone Group, on an ABS bond offering backed by personal consumer loans. The transaction, which closed on March 8, 2016, is Lendmark’s first-ever rated term securitization of personal loans. Lendmark is a consumer finance company specializing in providing a variety of personal loans, automobile loans and retail merchant sales finance services.

The New York-based Weil team advising Lendmark was led by Frank Nocco, head of the Firm’s Structured Finance & Derivatives practice, and included Structured Finance & Derivatives associates Daniel Lee and Rebecka Moreno (not yet admitted in New York) and Tax partner Larry Gelbfish.