Asset Finance | White & Case LLP International Law Firm, Global Law Practice
Asset Finance
Asset Finance

Asset Finance

For capital intensive industries and assets, maximizing the return on investments, addressing funding requirements for expenditure programs and managing risk require complex judgments about business needs, tax and accounting rules, and a variety of legal, regulatory and operating issues – often across multiple jurisdictions with conflicting legal regimes. Challenges and opportunities are further complicated by changes in the flow and availability of capital, continuing uncertainties regarding global growth, technological advances and continuing disequilibrium in particular industries. Our extensive experience in a broad range of industrial sectors and the depth of our resources in all primary markets give our clients a unique advantage on these matters.

 

Supporting our clients as they optimize their strategies

We are a recognized leader and innovator in asset-based and structured financing transactions. We have been involved in every significant development in asset-based finance, including in the cross-border market, and have pioneered many of the tax, legal and financial structures used in countries around the world.

Our global platform and substantial industry knowledge combine to put us in a unique position to navigate the complexities, challenges and opportunities our clients are facing. The products, transaction structures and commercial solutions we have developed give our clients a competitive edge in the implementation of their business strategy, whether in the optimization of their investments, gaining access to new and competitive sources of financing or in addressing the risks they face in an ever more complex legal, regulatory and operating environment.

 

The asset finance business and our role

We have substantial experience and knowledge in a wide range of sectors, including:

  • Commercial aviation, private jet and helicopter financing
  • Shipping and maritime
  • Rail equipment and infrastructure
  • Energy and other facility financings
  • Mining and metals
  • Telecommunications and satellites

Our lawyers are recognized market leaders in the application of all products related to complex asset-based and structured financings, including: tax and operating leases (including all types of Japanese operating lease transactions); warehouse loan facilities and pre-delivery payment financings; export credit agency (ECA) and manufacturer-supported financings; and numerous bank finance and debt capital markets-based transactions (including enhanced equipment trust certificate "EETCs" and asset-based securitization financings). We advise and represent clients on capital market equity raises and in high-profile bankruptcies and restructurings. We also routinely advise
on acquisitions of and/or investments in leasing companies and asset portfolios, secured and unsecured bridge and revolving credit financings, and a wide range of regulatory and asset repossession matters.

We represent all the participants in asset-based and structured finance transactions – including asset owners, operating companies, manufacturers, financial institutions, private equity and hedge funds, equity investors, lenders, lessors, lessees, investment advisors, corporate trustees, credit providers, joint venturers, debt and equity syndicates and multiple ECAs. Our understanding of the unique needs of all these participants allows us to craft specific strategies designed to help our clients reach their business goals and to address the challenges and opportunities they encounter.

 

View all lawyers in Asset Finance

 

AWARDS & RECOGNITION

Equipment Finance Law Firm of the Year
US News & World Report 2016

Capital Markets Unsecured Debt Deal of the Year: Alitalia 375M Unsecured Euro Bond
Export Credit Deal of the Year: Lionair Coface Bond Deal
Airfinance Journal 2016

Airport Finance Law Firm of the Year
Global Transport Finance 2015

Trade & Export Finance Deal of the Year: Turkish Airlines Italian Tax Lease
Bonds & Loans Turkey Awards 2015

Export Credit Agency Deal of the Year: Gener8 Maritime
Restructuring Deal of the Year: Torm AS
Structured Finance and Innovation Deal of the Year: UASC EMTC
Marine Money 2016

Industrial Manufacturing and Distribution Deal of the Year (over US$500 million): Nautilus
M&A Advisor Turnaround Awards 2015

Private Sector Financing Deal of the Year: Zakher Marine
Bonds, Loans and Sukuk Middle East Awards 2015

Shipping Debt Deal of the Year Middle East: UASC EMTC
Rail Capital Markets Deal of the Year: Alpha Trains
Global Transport Finance 2015

Tier 1 in Equipment Finance Law
U.S. News & World Report—Best Lawyers: Best Law Firms 2011 – 2015

Ranked first in North America for closed aviation sector asset financings 2014 – 2015
AirFinance Journal, September 2015

Band 2 for Asset Finance

"Adeptly handles the whole gamut of aviation financing from operating leases and ECA-backed bond financing to EETC issuances and syndicated portfolio financing for helicopter leasing entities."
Chambers Global 2015

"White & Case LLP has a broad spread of expertise when it comes to asset finance and leasing. The firm acts for an impressive range of banks and leasing companies across a range of asset classes."
The Legal 500 US 2015 (Tier 2)

Global Transport Finance's "Shipping Deal of the Year 2015 – Middle East"
United Arab Shipping Company in an innovative capital markets transaction, utilizing an EMTC (enhanced maritime trust certificate) financing structure that combined features from other transportation financings.

Global Transport Finance's "Rail Capital Markets Deal of the Year 2015"
The landmark establishment of a €1.25 billion common terms financing platform, enabling Alpha Trains to refinance parts of its existing debt and provide common covenant terms for raising future debt.

Airfinance Journal's "2014 Deal of the Year"
BNP Paribas in structuring and negotiating the US Ex-Im Bank–supported financing of Boeing 787-8 aircraft to Colombian airline Avianca using a French tax lease.

US$525 million loan for ViaSat-2 broadband satellite
US Ex-Im Bank direct loan to support the satellite's construction, launch and insurance.

Airfinance Journal's "2014 China Deal of the Year"
Minsheng Financial Leasing Co., Ltd. in purchasing a 13-aircraft portfolio from SMBC Aviation Capital Limited and additional aircraft from Guggenheim Aviation.

Global Transport Finance's "Aircraft Leasing Deal of the Year 2014 – Asia"
BNP Paribas in the JOLCO financing of Airbus A320 aircraft for ICBC Leasing for subsequent lease to Garuda.

Spirit Airlines EETC to purchase 15 new aircraft
Citigroup Global Markets, Morgan Stanley & Co. and Credit Suisse Securities (USA) LLC in Spirit Airlines' first EETC and debt capital markets transaction.

 

 

Asset Finance
About

For capital intensive industries and assets, maximizing the return on investments, addressing funding requirements for expenditure programs and managing risk require complex judgments about business needs, tax and accounting rules, and a variety of legal, regulatory and operating issues – often across multiple jurisdictions with conflicting legal regimes. Challenges and opportunities are further complicated by changes in the flow and availability of capital, continuing uncertainties regarding global growth, technological advances and continuing disequilibrium in particular industries. Our extensive experience in a broad range of industrial sectors and the depth of our resources in all primary markets give our clients a unique advantage on these matters.

 

Supporting our clients as they optimize their strategies

We are a recognized leader and innovator in asset-based and structured financing transactions. We have been involved in every significant development in asset-based finance, including in the cross-border market, and have pioneered many of the tax, legal and financial structures used in countries around the world.

Our global platform and substantial industry knowledge combine to put us in a unique position to navigate the complexities, challenges and opportunities our clients are facing. The products, transaction structures and commercial solutions we have developed give our clients a competitive edge in the implementation of their business strategy, whether in the optimization of their investments, gaining access to new and competitive sources of financing or in addressing the risks they face in an ever more complex legal, regulatory and operating environment.

 

The asset finance business and our role

We have substantial experience and knowledge in a wide range of sectors, including:

  • Commercial aviation, private jet and helicopter financing
  • Shipping and maritime
  • Rail equipment and infrastructure
  • Energy and other facility financings
  • Mining and metals
  • Telecommunications and satellites

Our lawyers are recognized market leaders in the application of all products related to complex asset-based and structured financings, including: tax and operating leases (including all types of Japanese operating lease transactions); warehouse loan facilities and pre-delivery payment financings; export credit agency (ECA) and manufacturer-supported financings; and numerous bank finance and debt capital markets-based transactions (including enhanced equipment trust certificate "EETCs" and asset-based securitization financings). We advise and represent clients on capital market equity raises and in high-profile bankruptcies and restructurings. We also routinely advise
on acquisitions of and/or investments in leasing companies and asset portfolios, secured and unsecured bridge and revolving credit financings, and a wide range of regulatory and asset repossession matters.

We represent all the participants in asset-based and structured finance transactions – including asset owners, operating companies, manufacturers, financial institutions, private equity and hedge funds, equity investors, lenders, lessors, lessees, investment advisors, corporate trustees, credit providers, joint venturers, debt and equity syndicates and multiple ECAs. Our understanding of the unique needs of all these participants allows us to craft specific strategies designed to help our clients reach their business goals and to address the challenges and opportunities they encounter.

 

View all lawyers in Asset Finance

 

AWARDS & RECOGNITION

Equipment Finance Law Firm of the Year
US News & World Report 2016

Capital Markets Unsecured Debt Deal of the Year: Alitalia 375M Unsecured Euro Bond
Export Credit Deal of the Year: Lionair Coface Bond Deal
Airfinance Journal 2016

Airport Finance Law Firm of the Year
Global Transport Finance 2015

Trade & Export Finance Deal of the Year: Turkish Airlines Italian Tax Lease
Bonds & Loans Turkey Awards 2015

Export Credit Agency Deal of the Year: Gener8 Maritime
Restructuring Deal of the Year: Torm AS
Structured Finance and Innovation Deal of the Year: UASC EMTC
Marine Money 2016

Industrial Manufacturing and Distribution Deal of the Year (over US$500 million): Nautilus
M&A Advisor Turnaround Awards 2015

Private Sector Financing Deal of the Year: Zakher Marine
Bonds, Loans and Sukuk Middle East Awards 2015

Shipping Debt Deal of the Year Middle East: UASC EMTC
Rail Capital Markets Deal of the Year: Alpha Trains
Global Transport Finance 2015

Tier 1 in Equipment Finance Law
U.S. News & World Report—Best Lawyers: Best Law Firms 2011 – 2015

Ranked first in North America for closed aviation sector asset financings 2014 – 2015
AirFinance Journal, September 2015

Band 2 for Asset Finance

"Adeptly handles the whole gamut of aviation financing from operating leases and ECA-backed bond financing to EETC issuances and syndicated portfolio financing for helicopter leasing entities."
Chambers Global 2015

"White & Case LLP has a broad spread of expertise when it comes to asset finance and leasing. The firm acts for an impressive range of banks and leasing companies across a range of asset classes."
The Legal 500 US 2015 (Tier 2)

Experience

Global Transport Finance's "Shipping Deal of the Year 2015 – Middle East"
United Arab Shipping Company in an innovative capital markets transaction, utilizing an EMTC (enhanced maritime trust certificate) financing structure that combined features from other transportation financings.

Global Transport Finance's "Rail Capital Markets Deal of the Year 2015"
The landmark establishment of a €1.25 billion common terms financing platform, enabling Alpha Trains to refinance parts of its existing debt and provide common covenant terms for raising future debt.

Airfinance Journal's "2014 Deal of the Year"
BNP Paribas in structuring and negotiating the US Ex-Im Bank–supported financing of Boeing 787-8 aircraft to Colombian airline Avianca using a French tax lease.

US$525 million loan for ViaSat-2 broadband satellite
US Ex-Im Bank direct loan to support the satellite's construction, launch and insurance.

Airfinance Journal's "2014 China Deal of the Year"
Minsheng Financial Leasing Co., Ltd. in purchasing a 13-aircraft portfolio from SMBC Aviation Capital Limited and additional aircraft from Guggenheim Aviation.

Global Transport Finance's "Aircraft Leasing Deal of the Year 2014 – Asia"
BNP Paribas in the JOLCO financing of Airbus A320 aircraft for ICBC Leasing for subsequent lease to Garuda.

Spirit Airlines EETC to purchase 15 new aircraft
Citigroup Global Markets, Morgan Stanley & Co. and Credit Suisse Securities (USA) LLC in Spirit Airlines' first EETC and debt capital markets transaction.