dcsimg Lease Finance

Lease Finance

Lease financing and similar transactions can offer businesses an efficient and, in some cases, tax-advantaged method of ensuring access to equipment and facilities without investing significant amounts of cash or incurring heavy debt. The experienced lawyers of McGuireWoods’ lease finance team represent lessors, lessees and other parties in a broad range of lease transactions and other equipment and facility financing programs.

With lawyers in Charlotte, New York, Chicago, Richmond and Baltimore, we have represented many of nation’s most active lenders, including major global and regional banks and their various lending divisions, as well as numerous Fortune 100 and mid-sized companies. We have worked on facilities and equipment transactions for clients active in a broad range of industries, including telecommunications, aircraft, aerospace equipment, railcars and locomotives, barges, yachts, computer equipment, manufacturing and electric utilities, as well as on deals involving real estate and related improvements.

General Leasing Matters

We regularly represent lessors, lessees, equity investors, lenders, agents and borrowers in transactions ranging in size from $10 million up to $1.4 billion, including domestic and cross-border leveraged leases, synthetic leases, municipal leases, tax-exempt lease financings, qualified tax credit bond lease financings, true leases and loans in syndicated and single investor structures.

To help clients achieve maximum savings, we provide counsel on state tax-advantaged structures, tax implications of true lease and service contract structures, commercial paper fundings through single and multiple conduits, and 1031 like-kind exchanges. We have extensive knowledge of tax and accounting requirements, such as SFAS 13, 66 and 98 and FIN 46R (as amended by SFAS 167), and are experienced in structuring sale-leaseback and other lease transactions that are responsive to the accounting, tax and financial needs of our clients.

Portfolio Sales and Acquisitions

Our lawyers represent lessors and equity investors in the acquisition and disposition of lease portfolios consisting of rail assets, aircraft, co-generation facilities, vessels and other miscellaneous equipment. In addition, we represent clients in the creation of lease purchase programs for both tax and tax-exempt lease portfolios under which portfolios or deals within portfolios are sold over time by utilizing master program documentation.

Vendor Financing Transactions

We advise vendor finance companies in a wide range of sales finance programs, including wholesale funding programs, discrete portfolio acquisitions, master lease purchase programs, residual advance programs, software-only programs and private label programs. We have extensive experience with sophisticated recourse programs and the transfer of lease receivables and other assets using bankruptcy-remote special purpose entities. We work closely with our vendor finance clients to structure customized finance programs that meet the financial objectives of all parties.

Real Estate Transactions

Drawing on the firm’s broad experience in general corporate and real estate acquisition matters, McGuireWoods’ leas finance team maintains a national presence in the sale-leaseback and synthetic lease industry. We represent equity, credit tenant and senior lender participants, as well as mezzanine lenders and other real estate capital providers, in real estate lease finance transactions. We handle lease financing transactions, single asset-purchasers, build-to-suit transactions and portfolio acquisitions and dispositions.

Tax-Exempt, Taxable and Tax Credit Municipal Lease Transactions

We regularly serve as lessor’s counsel, bond counsel, and special tax counsel in connection with a broad spectrum of traditional municipal lease financings for governmental lessees, including taxing districts, state-level issuers and their various political subdivisions and others. We have been involved with projects that span the universe of municipal capital financings, including new money and refinancings of water and sewer system equipment, airport facilities, secondary school facilities, university facilities, vehicle fleets and port equipment.

We have extensive experience in financings using tax credit and direct pay subsidies taking the form of qualified zone academy bonds, qualified school construction bonds and build America bonds. In addition, we assist lessors in tax-exempt true and capital lease financings for a variety of non-profit institutions, including health care providers. The group regularly represents purchasers and sellers of tax-exempt obligations in the secondary market.

Energy Transactions

The McGuireWoods lease finance team has depth in a variety of energy-related projects. We have participated in tax-exempt financings of energy performance projects for a variety of general and special purpose governmental borrowers, including the federal government and secondary market transactions related to such financings. Moreover, we have worked on projects generating electricity from solar, hydroelectric, wind and biomass facilities. Some of these projects have involved the use of clean renewable energy bonds, new clean renewable energy bonds and qualified energy conservation bonds.

CONTACTS

Patricia F. Hosmer Partner T: +1 704 373 8984
Results 1-20 of 20

RESULTS DEPEND ON A VARIETY OF FACTORS UNIQUE TO EACH CASE. PRIOR RESULTS DO NOT GUARANTEE OR PREDICT A SIMILAR OUTCOME.

Representative Matter

Agent companies

Represented agents in commercial paper-funded synthetic lease transactions for construction of onshore and offshore gas and oil pipelines, offshore gas processing plants and offshore oil and gas production platforms.
Representative Matter

Arranger company

Represented arranger in a $120 million lease intended for security of polypropylene plant assets, funded by commercial paper issued by three different conduits, for an affiliate of an oil company.
Representative Matter

Equity investors

Represented equity investors’ in transfer of their interest in several aircraft leveraged lease transactions, including the assignment of their tax indemnity claims in connection with lessee’s bankruptcy.
Representative Matter

Equity participant company

Representation of equity participant in $164 million leveraged lease of railcars to railcar operating company.
Representative Matter

Export development agency

Representation of export development agency in a $1.4 billion lease financing of railcars, locomotives and related maintenance facilities.
Representative Matter

Lender companies

Represented lenders in a $60 million leveraged lease financing of a co-generation facility.
Representative Matter

Lender company

Represented lender for $5.5 million energy conservation improvement lease financing (Qualified Zone Academy Bonds) undertaken by Eden Valley-Watkins School District, Eden-Valley, Minnesota.
Representative Matter

Lender company

Represented lender for $20 million solar-photo voltaic equipment lease revenue clean renewable energy bonds issued by California Alternative Energy and Advanced Transportation Authority.
Representative Matter

Lender company

Represented lender for $19.6 million landfill gas to electricity lease revenue clean renewable energy bonds issued by Los Angeles County, California, Sanitation Districts Financing Authority.
Representative Matter

Lender company

Represented lender for $3.6 million energy efficiency improvement lease financing (Qualified School Construction Bonds) undertaken by Pembroke School District, New Hampshire.
Representative Matter

Lessee company

Represented lessee in a $400 million sale/leaseback financing of branch banks and a headquarters building.
Representative Matter

Lessee company

Represented lessee in a $450 million project leveraged lease financing of a lignite-fined generating facility partially funded by a 144A debt offering.
Representative Matter

Lessor company

Represented lessor in an $11 million single investor TRAC lease of tractor-trailers to a chemical company.
Representative Matter

Lessor company

Represented lessor in a $45 million single investor lease of submersible drilling rigs to a foreign oil company.
Representative Matter

Lessor company

Represented lessor in an $18 million tax exempt lease acquisition of heavy machinery with a water management district.
Representative Matter

Lessor company

Represented lessor in three leveraged lease financings of refuse-to-energy facilities supported by municipal service agreements aggregating $1.245 billion.
Representative Matter

Lessor company

Represented lessor in a $40 million true lease of furniture and other miscellaneous equipment to an accounting firm.
Representative Matter

Lessor company

Represented lessor in $70 million portfolio sale of railcars and locomotives.
Representative Matter

Purchaser company

Represented purchaser in creation of limited recourse (notional loss pool) lease purchase program and initial acquisition of approximately $180 million of commercial equipment leases from bankruptcy-remote special purpose subsidiary of national equipment leasing company.
Representative Matter

Purchaser company

Represented purchaser in conversion of limited recourse lease purchase program to accommodate tax-exempt equipment leases and initial acquisition of approximately $42 million of tax-exempt commercial equipment leases from national equipment leasing company.
Results 1-20 of 20
Barry Biggar Barry Peter Biggar
Partner
1345 Avenue of the Americas
7th Floor
New York, NY 10105-0106

T: +1 212 548 7010
F: +1 212 715 6270
vCard
Asheesh Das Dr Asheesh Das
Partner
11 Pilgrim Street
London EC4V 6RN
United Kingdom

T: +44 20 7632 1682
F: +44 20 7632 1638
vCard
Danielle Gonderinger Danielle N. Gonderinger
Associate
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146

T: +1 704 343 2033
F: +1 704 444 8833
vCard
Patricia F Hosmer Patricia F. Hosmer
Partner
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146

T: +1 704 373 8984
F: +1 704 373 8935
vCard
Douglas E Lamb Douglas E. Lamb
Partner
One James Center
901 East Cary Street
Richmond, VA 23219-4030

T: +1 804 775 1107
F: +1 804 698 2272
vCard
Andrew Lockhart Andrew J. Lockhart
Associate
One James Center
901 East Cary Street
Richmond, VA 23219-4030

T: +1 804 775 4348
F: +1 804 698 2094
vCard
David E Melson David E. Melson
Partner
One James Center
901 East Cary Street
Richmond, VA 23219-4030

T: +1 804 775 1016
F: +1 804 698 2118
vCard
Charles L Menges Charles L. Menges
Partner
One James Center
901 East Cary Street
Richmond, VA 23219-4030

Court Square Building
310 Fourth Street, N.E.
Suite 300
Charlottesville, VA 22902-1288

T: +1 804 775 4331
F: +1 804 698 2119
vCard

T:+1 434 977 2545
F: +1 434 980 2222

Simon Clark Simon A. Neilson-Clark
Partner
11 Pilgrim Street
London EC4V 6RN
United Kingdom

T: +44 20 7632 1725
F: +44 20 7632 1638
vCard
Anna L Reimers Anna L. Reimers
Counsel
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146

T: +1 704 373 8094
F: +1 704 353 6205
vCard
Christine H Rogerson Christine H. Rogerson
Counsel
One James Center
901 East Cary Street
Richmond, VA 23219-4030

T: +1 804 775 7666
F: +1 804 698 2180
vCard
Staci E Rosche Staci E. Rosche
Partner
201 North Tryon Street
Suite 3000
Charlotte, NC 28202-2146

T: +1 704 373 8559
F: +1 704 353 6195
vCard
Charles A Scheer Charles A. Scheer
Counsel
77 West Wacker Drive
Suite 4100
Chicago, IL 60601-1818

T: +1 312 849 8173
F: +1 312 698 4547
vCard
Jennifer J Stearman Jennifer J. Stearman
Partner
7 Saint Paul Street
Suite 1000
Baltimore, MD 21202-1671

T: +1 410 659 4408
F: +1 410 659 4479
vCard