About Paul F. Kruger

Paul Kruger is a leading structured finance attorney, with extensive experience advising clients in the United States, Asia, Europe and the Middle East. Paul's experience includes representing private equity clients in the acquisition of corporate entities and assets and the structuring of joint ventures (including in the rail and aviation sectors), representing clients in the structuring of trade and supply-chain finance programs and representing arranger and borrower/issuer clients in the structured financing and securitization of a wide variety of assets.

Structured finance pioneer

Paul was at the forefront of the development of the securitization market in Asia in the early 1990s and since then has led hundreds of structured finance transactions in Asia, the United States, Europe and elsewhere. He brings his extensive experience to his private equity, financial institution and corporate clients as they structure and execute their most complex and challenging financings and acquisitions.

Paul has represented clients on a broad range of financing transactions, including project financings, acquisition financings, syndicated and bilateral loans and other capital raisings. He has structured trade and supply-chain platforms as well as balance-sheet and liquidity-optimization programs, and has executed transactions under all these programs. He has also assisted clients with the acquisition of portfolios of performing and nonperforming loans. In private equity transactions, he has represented clients in the acquisition of corporations and financings for these acquisitions through senior and mezzanine credit facilities and securitizations.

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Practice Focus

  • Structured finance
  • Private equity
  • Securitization
  • Trade and supply-chain finance

Representative Experience

  • Advised Napier Park on acquisition and financing of multiple portfolios of railcars and corporate entities. Financed through securitizations, senior and mezzanine loans, and liquidity facilities.  *
  • Advised majority creditors on the US$1 billion restructuring of a sukuk issued by Dana Gas. The deal won “Restructuring Deal of the Year” at the 2013 IFLR Middle East Awards.  *
  • Advised Morgan Stanley on the structuring and underwriting of a JPY128.9 billion acquisition bond issued by Nuclear Energy Holdings. The deal won “IFR Yen Bond of the Year 2006”.  *
  • Advised Santander and another financial institution on establishing the Trade MAPS Program and the US$1 billion inaugural issuance of securities thereunder.  *
  • Advised a financial institution on the establishment of a program under which notes, backed by pools of trade assets originated by various local branches and affiliates of the client, were issued.  *
  • Advised HSBC and another financial institution on a HK$6 billion securitization of toll revenues generated by Hong Kong SAR Government-owned bridges and tunnels. This was the first transaction of its kind in Hong Kong, the first retail offering of a securitization in Asia, the first toll revenue securitization in Non-Japan Asia, the first securitization of sovereign assets in Asia and the first securitization listed on HKSE.  *
  • Advised Deutsche Securities and another financial institution as lead managers on a US$367 million securitization of non-performing loans held by Korea Asset Management Corporation. This was the first international securitization of non-performing loans executed in reliance on the Korean ABS law.  *
* Experience prior to Katten

Presentations and Events