Skip to main content

Nixon Peabody LLP

  • People
  • Capabilities
  • Insights
  • About
Trending Topics
    • People
    • Capabilities
    • Insights
    • About
    • Locations
    • Events
    • Careers
    • Alumni
    Practices

    View All

    • Affordable Housing
    • Community Development Finance
    • Corporate & Finance
    • Cybersecurity & Privacy
    • Entertainment & Media
    • Environmental
    • Franchising & Distribution
    • Government Investigations & White Collar Defense
    • Healthcare
    • Intellectual Property
    • International Services
    • Labor, Employment, and Benefits
    • Litigation
    • Private Wealth & Advisory
    • Project Finance
    • Public Finance
    • Real Estate
    • Regulatory & Government Relations
    Industries

    View All

    • Aviation
    • Cannabis
    • Consumer
    • Energy
    • Financial Services
    • Healthcare
    • Higher Education
    • Infrastructure
    • Manufacturing
    • Nonprofit Organizations
    • Real Estate
    • Sports & Stadiums
    • Technology
    Value-Added Services

    View All

    • Alternative Fee Arrangements

      Developing innovative pricing structures and alternative fee agreement models that deliver additional value for our clients.

    • Continuing Education

      Advancing professional knowledge and offering credits for attorneys, staff and other professionals.

    • Crisis Advisory

      Helping clients respond correctly when a crisis occurs.

    • DEI Strategic Services

      Providing our clients with legal, strategic, and practical advice to make transformational changes in their organizations.

    • eDiscovery

      Leveraging law and technology to deliver sound solutions.

    • Environmental, Social, and Governance (ESG)

      We help clients create positive return on investments in people, products, and the planet.

    • Global Services

      Delivering seamless service through partnerships across the globe.

    • Innovation

      Leveraging leading-edge technology to guide change and create seamless, collaborative experiences for clients and attorneys.

    • IPED

      Industry-leading conferences focused on affordable housing, tax credits, and more.

    • Legal Project Management

      Providing actionable information to support strategic decision-making.

    • Legally Green

      Teaming with clients to advance sustainable projects, mitigate the effects of climate change, and protect our planet.

    • Nixon Peabody Trust Company

      Offering a range of investment management and fiduciary services.

    • NP Capital Connector

      Bringing together companies and investors for tomorrow’s new deals.

    • NP Second Opinion

      Offering fresh insights on cases that are delayed, over budget, or off-target from the desired resolution.

    • NP Trial

      Courtroom-ready lawyers who can resolve disputes early on clients’ terms or prevail at trial before a judge or jury.

    • Social Impact

      Creating positive impact in our communities through increasing equity, access, and opportunity.

    • Women in Dealmaking

      We provide strategic counsel on complex corporate transactions and unite dynamic women in the dealmaking arena.

    1. Home
    2. Capabilities
    3. Practices
    4. Derivatives

      Practices

    Derivatives

    In the evolving public finance market, we help clients maximize opportunities and hedge their risks through the use of derivative transactions.

    /Overview

    Nixon Peabody provides sophisticated guidance on a broad range of derivatives, including interest rate, basis, commodity and currency swaps, as well as caps and options. Positioned at the forefront of this public finance tool, we use derivatives with new financings, and with restructuring and refunding existing financings.

    Our team drafts and negotiates the legal documentation for these products and develops guidelines to help lenders review how they are used. We advise about Dodd-Frank compliance, including drafting internal policies and procedures, completing ISDA Protocol documentation, and bilateral contracts with swap counterparties.

    Derivatives raise many federal tax issues, and these tax aspects are critical in achieving the intended financial benefits. We advise our clients about the following:

    • The treatment of derivatives as qualified hedges for arbitrage yield purposes
    • Loans or investments associated with lump sum payments
    • The effect of derivatives on the treatment of payments on a debt as tax-exempt interest
    • Reissuance and change in yield concerns that may arise from the termination of a derivative
    • The impact of a subsequent securitization of tax-exempt bonds

    /Representative Experience

    • State Serve as swaps/derivatives counsel in assisting with negotiating ISDA Master Agreements, amendments to swap documentation, and novation of swap transactions, as well as with Dodd-Frank Act compliance.
    • State Transportation Agency Serve as swap counsel in assisting with negotiation of ISDA Master Agreements, related documentation and confirmations involving interest rate and commodity swaps, forward starting swaps, basis swaps, swaptions, and termination agreements. We have also represented this municipal issuer and affiliates with respect to amending and terminating swap transactions and with Dodd-Frank Act compliance.
    • State Municipal Power Agency Serve as swap counsel by assisting in the negotiation of ISDA Master Agreements, related documentation and confirmations involving interest rate, and commodity swaps. We have represented this municipal issuer with respect to the negotiation of multiple swap transaction amendments, terminations, and novations relating to the restructuring of bond issues or to the credit deterioration of the swap counterparty. We have also assisted this municipal issuer with Dodd-Frank Act compliance.
    • Corporate Entity and Affiliates Serve as swap counsel in negotiating Credit Support Annexes, ISDA Master Agreements, and amendments to ISDA Master Agreements, as well as with Dodd-Frank Act compliance.
    • Higher Education Institution/Nonprofit Entity Served as swap counsel in the negotiation of an ISDA Master Agreement, Credit Support Annex, and Confirmation for an interest rate swap transaction, as well as for the amendment and early termination of such a swap transaction.
    • Municipal Water District Represented in the negotiation of an ISDA Master Agreement and related documentation and the novation of several interest rate swap transactions.

    /Recognition

    • Nixon Peabody has been named a Tier 1 National firm for Public Finance Law in the 2025 edition of Best Law Firms®.
    • The Legal 500 United States 2024 editorial—ranked for Project finance - Infrastructure and PPP
    • Ranked in Chambers USA for Public Finance—Nationwide and also in California, District of Columbia, Illinois, New York.
    • Nixon Peabody was named by U.S. News/Best Lawyers® 2021 as “Law Firm of the Year” in Public Finance Law.
    • Consistently ranked Top 10 in bond counsel, underwriter’s counsel, disclosure counsel, special tax counsel, and green bond counsel by Thomson Reuters.

    Our Team

    See Full Team
    • Barry M. Rothchild

      Counsel
      • New York City
      • Office:+1 212.940.3187
      • brothchild@nixonpeabody.com
      Barry M. Rothchild
    • Kenneth C. Lind

      Senior Counsel
      • New York City
      • Office:+1 212.940.3005
      • klind@nixonpeabody.com
      Kenneth C. Lind
    • Daniel M. Deaton

      Partner
      • Los Angeles
      • Office:+1 213.629.6050
      • ddeaton@nixonpeabody.com
      Daniel M. Deaton
    • Paul Dewey

      Associate
      • New York City
      • Office:+1 212.940.3052
      • pdewey@nixonpeabody.com
      Paul Dewey
    See Full Team

    Insights And Happenings

    View All
    • Press Release

      The Bond Buyer recognizes Nixon Peabody attorney Kenneth Lind as Hall of Fame honoree

      Sep 9, 2024
    • Alert

      What should the municipal securities market learn from the SEC’s recent proposed corporate cybersecurity rules?

      April 11, 2022
    View All

    Subscribe to stay informed of the latest legal news, alerts, and business trends.Subscribe

    • People
    • Capabilities
    • Insights
    • About
    • Locations
    • Events
    • Careers
    • Alumni
    • Cookie Preferences
    • Privacy Policy
    • Terms of Use
    • Accessibility Statement
    • Statement of Client Rights
    • Purchase Order Terms & Conditions
    • Nixon Peabody International LLC
    • PAL
    © 2025 Nixon Peabody. All rights reserved