Derek Walters
Advises clients on complex equity derivatives and other structured transactions, including margin loans, convertible notes, OTC derivatives and structured products.
Derek is a member of our Capital Markets and Derivatives & Structured Products practices. He advises financial institutions and others on equity derivatives and other structured transactions, including margin loans secured by significant positions in public companies, public and private convertible note offerings, OTC derivatives and structured products. His practice encompasses transaction execution as well as new product development.
In his margin loan practice, Derek has represented financial institutions in some of the largest and most complex margin loans in the market. He has extensive experience in the convertible note and OTC markets, and in his structured products practice, he has advised multiple large financial institutions in over $30 billion of structured product issuances.
Experience highlights
Margin Loans
- Lenders in $4.38 billion margin loan to a subsidiary of SoftBank secured by shares of T-Mobile US, Inc.
- Lenders in $4 billion margin loan to a subsidiary of Dell Technologies Inc. secured by shares of VMware, Inc.
- Lenders in $3 billion margin loan to a subsidiary of Altaba Inc. secured by shares of Alibaba Group Holding Limited
- Lenders in $350 million margin loan to a subsidiary of Blackstone secured by shares of Hudson Pacific Properties, Inc.
- Lenders in $225 million margin loan to a subsidiary of KKR secured by shares of US Foods Holding Corp.
- Lenders in $225 million margin loan to a subsidiary of Apax secured by shares of preferred stock of Verint Systems Inc.
Convertible Notes
- Initial purchasers in $287.5 million convertible note offering by Bandwidth Inc.
- Initial purchasers in $225 million convertible note offering by Livent Corporation
- Initial purchasers in $535 million convertible note offering by Silicon Laboratories Inc.
- Initial purchasers in $920 million convertible note offering by Proofpoint, Inc.
- Initial purchasers in $500 million convertible note offering by YY Inc.
- Underwriter in $200 million convertible note offering by Intrexon Corporation and concurrent offering of common stock issued pursuant to a share lending agreement
- Initial purchasers in $650 million convertible note offering by Momo Inc.
- Initial purchaser in $2.5 billion convertible note offering by DISH Network Corporation
- Initial purchasers in $270 million convertible note offering by MINDBODY, Inc.
- Initial purchaser in $150 million convertible note offering by EZCORP, Inc.
- Initial purchasers in $250 million convertible note offering by Teladoc, Inc.
- Underwriters in $275 million convertible note offering by Cleveland-Cliffs Inc.
- Underwriters in $110 million convertible note offering by Horizon Global Corporation
- Initial purchasers in $87.5 million convertible note offering by Newpark Resources, Inc.
- Underwriters in $350 million convertible note offering by Macquarie Infrastructure Corporation
- Initial purchasers in $300 million convertible note offering by Insulet Corporation
- Initial purchasers in $250 million convertible note offering by Cypress Semiconductor Corporation
Structured Products
- Multiple large financial institutions in over $30 billion of structured product issuances
Insights
Credentials
Recognition
Chambers USA – Derivatives, Up and Coming
Chambers USA – Capital Markets: Structured Products, Up and Coming
Education
Professional history
- Partner, 2018-present
- Counsel, 2014-2018
- Davis Polk since 2011
- Associate, Cravath, Swaine & Moore, 2006-2011
Qualifications and admissions
- State of New York