Donald Steelman represents issuers, underwriters, fund managers, corporations, banks and other financial institutions in asset-backed securities transactions and other capital markets transactions.

Bio

Mr. Steelman's experience includes representing clients in whole business securitizations, auto loan securitizations and financing, student loan securitizations, CDO transactions, asset-backed commercial paper and medium-term note programs, spectrum lease securitizations, trade receivables financing, derivatives and lending arrangements. He has worked with clients to restructure and refinance existing securitization transactions, and to acquire distressed assets. He has acted as counsel in public offerings and private placements involving the issuance of asset-backed notes, pass-through certificates, bonds and commercial paper notes. While his practice is focused on structured finance, Mr. Steelman also works on general corporate and securities law-related matters for his clients. He was selected for inclusion in IFLR1000 2014. Notable transactions include representing:

  • Newcastle Investment Corp. and certain of its subsidiaries in numerous transactions in connection with the purchase of excess servicing spreads involving $84 billion of both agency and non-agency mortgage loans;
  • Domino’s Pizza Inc. and certain of its subsidiaries in connection with the issuance of $1.575 billion of fixed-rate senior secured term notes and the establishment of a $100 million floating-rate, revolving variable-funding note facility;
  • Sonic Corp., a chain of drive-in restaurants, and certain of its subsidiaries in a $500 million issuance of fixed-rate senior secured term notes and the establishment of a $100 million floating-rate revolving variable funding note facility;
  • Citigroup Inc. in its sale of The Student Loan Corporation, including the divestiture of its private student loan business and $32 billion of its assets, to Discover Financial Services and Sallie Mae;
  • C12 Capital Management LP in Barclays Capital Inc.’s spin-out of $12.3 billion of Barclays’ credit market assets, including $3.2 billion in mortgage-backed securities assets into a separate fund; and
  • BlackRock as asset manager and administrator in a $32 billion Canadian asset-backed commercial paper restructuring.

Credentials

Education

  • J.D., Fordham University School of Law, 1999
  • B.A., University of Florida, 1981

Admissions

  • New York

Donald J. Steelman