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March 30, 2021
Cadwalader represented UNIFY Financial Credit Union as sponsor in its $300 million inaugural auto loan securitization, UNIFY Auto Receivables Trust 2021-1, collateralized by a pool of indirect, prime auto loans originated by UNIFY. The transaction represents only the second time a federal credit union has used securitization as a funding source. In 2019, the team at Cadwalader also represented the first credit union ever to complete a securitization. Stifel, Nicolaus & Company, Incorporated was the Initial Purchaser on both transactions.
The Cadwalader team was led by Capital Markets partner Ira Schacter and included capital markets associate Cathy Lian, Finance partner Jeffrey Nagle, Financial Restructuring senior counsel Peter Dodson and special counsel Kathryn Borgeson.