Overview
John Hitt is a partner in Chapman's Asset Securitization Department and serves as Office Leader of the firm's Washington, DC office. Since joining the firm, John’s work has involved the structuring and negotiation of a variety of securitization transactions, including transactions backed by equipment loans and leases, trade receivables, student loans, commercial loans (including SBA loans), timeshare interests, automobile loans, residential mortgage loans, credit card receivables, and various other types of contract rights.
John’s experience includes general corporate representation and the representation of financial institutions in their sale or acquisition of portfolios of master servicing and trustee appointments, the representation of purchasers of unsecured consumer and business receivables, and the representation of investors in alternative investments.
Representative Matters
- Representation of an issuer in its issuance of asset-backed securities, and its affiliated borrower in a structured credit facility, in each case secured by equipment loans and leases.
- Representation of an investor in securities backed by solar project loans.
- Representation of an SBA lender as a borrower in a credit facility backed by unguaranteed portions of SBA 7(a) loans.
- Representation of an investor in its purchase of asset-backed securities secured by payments owed to charter schools.
- Representation of an issuer and manager in various transactions financing the purchase of receivables owed to vendors by a state government.
- Representation of an investor in various transactions financing the purchase of receivables owed to vendors by a state government.
- Representation of an aircraft engine manufacturer and its special purpose subsidiaries in its structured receivables facilities.
- Representation of a borrower in a structured credit facility backed by interests in commercial PACE assets.
- Representation of a sponsor establishing a titling trust to purchase commercial PACE assets.
- Representation of investors in purchases of asset-backed securities secured by structured settlements.
- Representation of trustees, securities administrators, back-up servicers, transition managers, custodians and verification agent in connection with various public, private and Rule 144A securitization, risk transfer and corporate debt transactions.
- Representation of an indenture trustee in connection with notes issued by banks in Israel, including in the first international issuance of contingent convertible (CoCo) notes.
- Representation of an investor in purchases of pools of business and consumer loans.
- Representation of an aircraft lessor in connection with its warehouse funding transactions.
- Representation of the term note investors in the receivables facility of Major League Baseball Trust.
- Representation of state pension plans and the trustee for a private foundation in investments in various hedge funds and private equity funds.
Practice Focus
- Asset Securitization
- Banking and Financial Services
- Collateralized Loan Obligations and Collateralized Debt Obligations
- Commercial Paper and Bank-Financed Transactions
- Community Development and Charter School Finance
- Consumer Loans
- Corporate Finance and Securities
- Corporate Trust and Agency Services
- Credit Card Receivables
- Equipment Finance Receivables
- ESG Counsel and Sustainable Finance
- Esoteric Assets and Emerging Asset Classes
- Industry Advocacy and Regulatory Counsel
- Mortgage-Backed Securities
- Motor Vehicle Loans, Leases, and Floorplan Receivables
- PACE Financing
- Renewable Energy Finance
- Sports Finance
- Student Loans and Education Finance
- Timeshare Receivables
- Trade Receivables
- Transportation Assets
- Trustees and Back-Up Servicers
Admitted
Illinois
Washington, DC
Education
University of Virginia School of Law, J.D., 1990
- Editor-in-Chief, Virginia Journal of International Law
Yale University, B.A., History, 1987
Notable Engagements
Crypto-Collateralized LoansChapman represented a financial services firm that serves as a third-party key agent for digital asset/crypto-collateralized loans, including bitcoin- and ether-backed loans, originated by a decentralized platform operated by a financial technology company.
First International Green CoCo Bond Issuance by Israeli BankChapman served as US counsel to Reznik Paz Nevo Trusts Ltd. in connection with the issuance by Bank Hapoalim of US$1 billion of green CoCo bonds, the first international issuance of green contingent convertible (CoCo) notes by an Israeli bank in accordance with the Green Bond Principles published by the International Capital Market Association.
First Israeli International Senior Unsecured Note IssuanceChapman served as counsel to the indenture trustee in the first international issuance of a senior unsecured note by an Israeli lender.
US$800 Million Bond Issuance by Israel Discount BankChapman served as US counsel to the indenture trustee in connection with the issuance by Israel Discount Bank of US$800 million of senior notes, the bank’s first US dollar-based international bond issue.
US$500 Million Green Note Issuance by Bank LeumiChapman served as US counsel to the indenture trustee in connection with the issuance by Bank Leumi of US$500 million of tier 2 contingent convertible (CoCo) green notes, the bank’s first offering under its new Green Bond Framework.
Insights
Presentations
- Moderator, "Leasing Finance Company Roundtable," 18th Annual Investors' Conference on Equipment Finance. March 20, 2019.
- Panelist, "Addressing Risk in Esoteric ABS: From Life Science to Mortality to Climate Change," 24th Annual ABS East Conference. September 23 – 25, 2018.
- Panelist, "The Private Placement Market," 23rd Annual ABS East Conference. September 17 – 19, 2017.
- Presenter, "Fundamentals of Solar Finance," Fourth Annual Sunshine Backed Bonds Conference. April 21, 2016.
- Panelist, "Industry Panel: The State of the Solar Asset Class, Best Practices and Emerging Standards," Intersolar North America Conference. July 13, 2015.
- Panelist, "Renewable Energy Finance: Key Concerns and New Solutions in Asset Management," Third Annual Sunshine Backed Bonds Conference. April 30 – May 1, 2015.
- Panel Moderator, "Track A Solar Securitization: Understanding Market Potential," Sunshine Backed Bonds Conference. May 2, 2014.
- Panelist, "Rating Obstacles and Opportunities for Solar Asset Securitization," Intersolar North America Conference. July 2013.
- Panel Moderator, "Trustee Roundtable," American Securitization Forum. January 25, 2012.
- Guest lecturer at Chicago-Kent College of Law regarding Securitization and the financial crisis
- Presenter to various clients for continuing legal education on TALF, PPIP and the financial crisis
- Prepared and presented materials at training sessions regarding Regulation AB for various clients
