Dean C. Masse
Dean C. Masse
(416) 601-7889
(416) 868-0673
66 Wellington St W, Suite 5300, TD Bank Twr, Toronto, ON
Year called to bar: 1999 (ON)
Partner in the firm’s Toronto office. Practice focuses on securitization, structured finance, and securities transactions, including single-seller, multi-seller, and cross-border securitization transactions and asset-backed programs. Acts for issuers, sellers, purchasers, dealers, trustees, liquidity providers, and credit enhancers in various public and private securitization and structured finance transactions involving a variety of asset classes, including credit card receivables, residential and commercial mortgages, home equity lines of credit, auto loans, equipment loans, retail instalment contracts, and trade receivables. Extensive experience acting for issuers and dealers in connection with prospectus offerings, private placements, covered bonds programs, medium-term notes programs, commercial paper programs, and continuous disclosure matters. Has spoken at a number of conferences on various securitization and covered bonds topics. Listed as a leading lawyer in the area of Asset Securitization in the Lexpert®/ALM 500 Directory, in Capital Markets - Securitization in Chambers Canada, in Capital Markets: Securitisation in The Legal 500, and in Capital Markets - Structured Finance & Securitization in IFLR1000. Admitted to the Ontario Bar in 1999.
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Scotiabank completed the acquisition of a 20 per cent equity interest in the financial services business of Canadian Tire Corporation, Limited for $500 million in cash. As part of the new business partnership, Scotiabank has agreed to provide a funding commitment to the financial services business of up to $2.25 billion and the parties have entered into a marketing program agreement to pursue joint marketing initiatives.
Element Financial Corporation (TSX: EFN) completed its largest acquisition to date with the $570-million purchase of the assets comprising GE Canada's fleet leasing business. GE Canada's fleet vehicle portfolio consists of 650 regionally diversified customers and integrated fleet management services for vehicle and light and medium truck financings. As part of the acquisition, Element also entered into a strategic alliance agreement with GE Capital Fleet Services in the US pursuant to which the companies will collaborate primarily on the pursuit of Canadian/US cross-border fleet management opportunities.
CARDS II Trust completed a sale of Series 2013-1 1.984 per cent Credit Card Receivables Backed Class A Notes in the amount of $1,000,000,000 (the “Class A Notes”) and Series 2013-1 2.784 per cent Credit Card Receivables Backed Class B Notes in the amount of $69,591,000.
On May 21, 2010, CARDS II Trust completed two issuances of credit card receivables backed notes totalling $1.152 billion.
On January 22, 2010, Ford Credit Canada Limited (FCCL) completed a retail loan securitization transaction, receiving proceeds of approximately $510 million.
On June 29, 2009, Ford Credit Canada Limited (FCCL) completed a retail loan securitization transaction, receiving proceeds of $0.6 billion. In order to carry out the transaction, Ford Auto Securitization Trust, a newly established master trust sponsored by FCCL, purchased a pool of retail conditional sale contracts from FCCL.
On October 14, 2004, CARDS II Trust completed an issue of $1.392 billion of asset-backed notes.
Golden Credit Card Trust completed a public offering of $950 million 4.159 per cent credit card receivable-backed senior notes, series 2003-1, and $50 million 5.069 per cent credit card receivable-backed subordinated notes, series 2003-1.