King & Spalding LLP‘s finance and restructuring practice advises clients from across the transportation sectors, including General Motors, Jack Cooper and UPS, along with various financial actors in acquisitions and dispositions of assets, credit facilities, capital, operating and leveraged financing, along with synthetic lease structures. The team oversees some of the largest transactions involving transportation assets, including stock, locomotives, chassis, containers, automobiles, tractors, along with the purchase and sale of rolling stock and other rail assets and portfolios. Restructuring expert Jeff Dutson is sought after by clients for his experience in financial, bankruptcy, and transactional matters . Newly arrived Brett Seifarth is a key component of the team in matters involving leasebacks and financing structures, while Atlanta-based John Hyman is previously experienced in acquisition and leasing of transportation assets along with share sales of rail companies. Additionally, Keith M. Townsend works closely with the team in transportation share sales, and has previously advised clients on acquisitions within the automotive sectors.Christopher Buchanan has left the firm.
Rail and road: finance in United States
King & Spalding LLP
Responsables de la pratique:
Todd Holleman; Carolyn Z. Alford
Autres avocats clés:
John Hyman; Brett Seifarth; Keith M. Townsend
Principaux clients
Truist Bank (formerly SunTrust Bank)
Wells Fargo Rail Corporation
KKR Credit Advisors
Canadian-Based Investment Manager
General Motors
Genuine Parts Company
UPS
JPMorgan Chase Bank
Jack Cooper
Principaux dossiers
- Advised New Century in its bid to rescue trucking giant Yellow Corp from bankruptcy liquidation and bring back some 30,000 union jobs.
- Advised Genuine Parts Company (NYSE: GPC) in completing its registered offering of $425 million aggregate principal amount of 6.500% senior notes due 2028 and $375 million aggregate principal amount of 6.875% senior notes due 2033.
Vedder Price
Vedder Price‘s global transportation finance team leverages considerable experience in rail finance and securitization, being frequently retained by client from the equity sector, including insurance companies, private equity, hedge funds and others. The department is broadly experienced, with a portfolio of matters involving railcar leasing joint ventures and asset-backed financing, railcar sales, restructuring of rail facilities, sales of rail platforms and other assets, and rail-related asset backed securitization. The team includes experts from Chicago, Los Angeles and New York, and is highly sought after for matters involving several jurisdictions, especially in North America and Asia. Chicago-based Geoffrey Kass heads the practice, and is accompanied by Michael Draz , who is a port of call for matters requiring expertise in rail transactions and structured financings, including securitization, asset loan facilities, both local and cross-border operating leases, acquisitions and strategic joint ventures, areas that frequently see the involvement of Joel Thielen. Jeffrey Veber advises clients on structured financing and asset purchases involving commercial railcars and platforms out of New York, while Clay Thomas advises on a variety of structured financing transactions involving rail, including rolling stock portfolio acquisitions, sale-back transactions and various lease-related transactions.
Responsables de la pratique:
Geoffrey R. Kass
Autres avocats clés:
Michael E. Draz; Jeffrey T. Veber; Clay C. Thomas; Joel R. Thielen; Jack Bycraft; Jillian Musa
Les références
‘Experience is unrivaled in the rail industry’
‘Work ethic and technical experience’
‘The team at Vedder Price has extensive experience in all aspects of rail finance work. They have worked on virtually every rail-related ABS or bank financing deal in the past decade-plus and are at the forefront of developments in this area. ’
Principaux clients
Chicago Freight Car Leasing Co.
Atlas SP
Export Development Canada
Greenbrier
ITE Management
J.P. Morgan Asset Management
National Steel Car Limited
PNW Railcars, Inc.
Stonebriar Commercial Finance
Trinity Industries, Inc.
Principaux dossiers
- Represented ITE Management in connection with its acquisition of SMBC Rail Services LLC and related financing arrangements, a transaction involving over 50,000 railcars and resulting in one of the largest railcar leasing platforms in North America.
- Represented Greenbrier in connection with the $179 million GBXL Series 2023 – 1 railcar asset-backed securitization, Greenbrier’s second ABS issuance.
- Represented Trinity Rail Leasing Warehouse Trust in an extension and renewal of its bankruptcy remote secured warehouse loan financing of a revolving portfolio of railcars and related leases.
Mayer Brown
Mayer Brown‘s transportation finance practice is praised by clients for its ‘multidisciplinary approach, industry expertise, client-centric culture, and emphasis on diversity and inclusion’. The team’s fields experience in advising a broad spectrum of clients, including equity sponsors, lenders, and public entities and other parties in various transaction structures, including asset sales, Public-Private Partnerships and refinancing, among others. The team is retained by a significant portfolio of clients, including KPMG, Wells Fargo Bank and J.P. Morgan Securities, and other lenders in various rail project financing, such as Brightline West. Chicago-based Joseph Seliga is the department head, and advises clients in matters involving rail infrastructure, mass transit, and public-private partnership transactions for government entities, developers and lenders, among other clients. David Narefsky is a key member of the team for government rail infrastructure transactions, including Brightline, public metros, and advising the California High-Speed Rail Authority on financing matters. Stephanie Wagner oversees transactions pertaining to rail concession and mass transit projects, and is noted as an ‘expert in her field and a strong advocate’.
Responsables de la pratique:
Joseph Seliga
Autres avocats clés:
Stephanie Wagner; David Narefsky; Rachel Smith; Gabriela Chavez-Barrientos.
Les références
‘Mayer Brown has exceptional professionals who are widely respected within their fields and known for their contributions to the firm and legal profession. The stand-out people I work with are Stephanie Wagner, Rachel Smith, and Gabriela Chavez-Barrientos.’
‘Mayer Brown stands out for its multidisciplinary approach, industry expertise, client-centric culture, and emphasis on diversity and inclusion. These strengths, combined with the firm’s delivery of exceptional legal services, make it an excellent choice for clients seeking strategic legal counsel on complex matters.’
‘The firm has access to deep resources internally and externally so that it may provide services whenever needed and meet the client’s needs and deadlines. The firm also stays within stated budgets, works efficiently and cares about achieving the client’s goals.’
Principaux clients
Gateway Development Commission (GDC)
KPMG/Michigan Department of Transportation
Morgan Stanley
ACS and Glydways
University of Michigan
Texas Department of Transportation (Grand Parkway Transportation Corporation)
Principaux dossiers
- Represented Morgan Stanley as lead underwriter on multiple tax-exempt financings, totalling approximately 1.65 billion to support the development of Brightline West, a privately developed passenger rail network connecting Las Vegas with Southern California
- Represented Morgan Stanley as lead underwriter on multiple tax-exempt and taxable financings, totalling approximately $7.5 billion, to support the development of Brightline Florida, a privately developed passenger rail network.
- Representing the Gateway Development Commission (“GDC”) on its multi-billion dollar program to construct and rehabilitate rail infrastructure assets along the Northeast Corridor, including advising on all aspects of the construction procurement and financing.
Moore & Van Allen, PLLC
Moore & Van Allen, PLLC‘s rail finance offering is a port of call for a variety of financing, restructuring and leases involving rail-related assets. The team represents lenders, asset managers and lessors in railcar purchases, loans, leases, facilities, securitizations, and other finance transactions. The team includes ITE Management, Wells Fargo Rail Corporation, Truist Equipment Finance and The InStar Group as part of its portfolio of clients. The team is currently headed by Charlotte-based Matthew R. Mollozzi, who is sought after by clients for his broad experience in representing lessors, lesses, banks, investment firms, lenders and borrowers in various rail equipment related finance, including transactions involving railcars, warehouses, and other rail assets. Emily Young and Payton Wallace are key members of the team, and frequently operate in matters requiring expertise in rail-related credit facilities, leases and direct loans.
Responsables de la pratique:
Rob Kenny
Autres avocats clés:
Emily Young; Payton Wallace
Principaux clients
ITE Management
The |InStar| Group
CIT Rail, a division of First-Citizens Bank & Trust Company
Wells Fargo Rail Corporation
Boundary Rail
Citizens Asset Finance, Inc., a division of Citizens Bank, N.A.
AITX
Banc of America Leasing & Capital, LLC
Amergin| Asset Management
SMBC Equipment Finance
Truist| Equipment Finance
Riverside Rail
KeyBank Equipment Finance
Principaux dossiers
- Represented US and Canadian SPE subsidiaries of ITE Management in connection with a $385 million (optional increase to $600 million) revolving loan warehouse facility for railcars and related leases.
- Represented US and Canadian SPE subsidiaries of The InStar Group, LLC in connection with a $305 million (optional increase to $500 million) revolving loan warehouse facility for railcars and related leases.
- Represented The InStar Group, LLC in connection with a $200 million purchase of railcars and related leases.