Derek Walters
  1. Partner

Mr. Walters is a partner in Davis Polk’s Corporate Department, practicing in the Derivatives & Structured Products Group.  He advises financial institutions, companies and investors on equity derivatives and other structured transactions, including convertible notes, margin loans secured by significant positions in public companies, over-the-counter derivatives and structured products.  His practice encompasses transaction execution as well as product development and regulatory compliance.

Work Highlights

MARGIN LOANS
  • Lenders in $4.38 billion margin loan to a subsidiary of SoftBank secured by shares of T-Mobile US, Inc.
  • Lenders in $4 billion margin loan to a subsidiary of Dell Technologies Inc. secured by shares of VMware, Inc.
  • Lenders in $3 billion margin loan to a subsidiary of Altaba Inc. secured by shares of Alibaba Group Holding Limited
  • Lenders in $350 million margin loan to a subsidiary of Blackstone secured by shares of Hudson Pacific Properties, Inc.
  • Lenders in $225 million margin loan to a subsidiary of KKR secured by shares of  US Foods Holding Corp.
  • Lenders in $225 million margin loan to a subsidiary of Apax secured by shares of preferred stock of Verint Systems Inc.
CONVERTIBLE NOTES
  • Initial purchasers in $287.5 million convertible note offering by Bandwidth Inc.
  • Initial purchasers in $225 million convertible note offering by Livent Corporation
  • Initial purchasers in $535 million convertible note offering by Silicon Laboratories Inc.
  • Initial purchasers in $920 million convertible note offering by Proofpoint, Inc.
  • Initial purchasers in $500 million convertible note offering by YY Inc.
  • Underwriter in $200 million convertible note offering by Intrexon Corporation and concurrent offering of common stock issued pursuant to a share lending agreement
  • Initial purchasers in $650 million convertible note offering by Momo Inc.
  • Initial purchaser in $2.5 billion convertible note offering by DISH Network Corporation
  • Initial purchasers in $270 million convertible note offering by MINDBODY, Inc.
  • Initial purchaser in $150 million convertible note offering by EZCORP, Inc.
  • Initial purchasers in $250 million convertible note offering by Teladoc, Inc.
  • Underwriters in $275 million convertible note offering by Cleveland-Cliffs Inc.
  • Underwriters in $110 million convertible note offering by Horizon Global Corporation
  • Initial purchasers in $87.5 million convertible note offering by Newpark Resources, Inc.
  • Underwriters in $350 million convertible note offering by Macquarie Infrastructure Corporation
  • Initial purchasers in $300 million convertible note offering by Insulet Corporation
  • Initial purchasers in $250 million convertible note offering by Cypress Semiconductor Corporation
STRUCTURED PRODUCTS
  • Multiple large financial institutions in over $30 billion of structured product issuances

Professional History

  • Partner, 2018-present
  • Counsel, 2014-2018
  • Associate, Davis Polk, 2011-2014
  • Associate, Cravath, Swaine & Moore, 2006-2011

Bar Admissions

  • State of New York

Education

  • A.B., Economics and Political Science, University of Georgia, 2001
  • J.D., Yale Law School, 2006