Sidley represented Freedom Financial Network, LLC in acting as issuer’s counsel for the investment grade rated US$230.5 million FREED ABS Trust 2021-3FP Asset-Backed Note issuance and the corresponding issuance of residual interests. The Notes are secured by a pool of unsecured consumer loans initially acquired pursuant to the FreedomPlus loan program by several whole loan purchasers, including Freedom’s affiliated hedge fund, and transferred to the issuer in connection with the securitization.
The Sidley team was led by T.J. Gordon with assistance from Andrew C. Adair, Christian Wyse, Matthew J. Tucker, Teresa Wilton Harmon, Dale W. Lum, Pietro Fontana, and William Shirley (Global Finance); Sally K. Jordan and Shirin Maani (paralegals, Global Finance); John K. Van De Weert, Rachpal K. Thind, and Tom Hunter (Banking and Financial Services); Richard M. Silverman, Edwin L. Norris, and Wondha Cadet (Tax); Kevin F. Blatchford and Prabhat K. Mehta (Capital Markets); Beth J. Dickstein and Julia M. Sprangers (Employee Benefits and Executive Compensation); and David E. Tang, Zach Paterick, Brian M. Kaplowitz, and Carla G. Teodoro (Investment Funds).