Clay C. Thomas

Clay Thomas assists lenders, borrowers, issuers, equipment manufacturers, and airlines in negotiating and executing a wide range of financings and acquisition/disposition transactions in the aviation, rail and maritime industries.

Recognized for his expertise in global transportation finance, Clay also advises sophisticated companies in the transportation sector on bankruptcy, insolvency issues, structuring matters and various secured and unsecured lending transactions.

Clay’s considerable experience in structuring finance transactions includes a variety of capital market issuances and bank syndicate revolving and term loan facilities. He represents clients in U.S. and cross-border sale, lease and financing deals, including aircraft, vessel and rolling stock portfolio acquisitions and related financings, sale-leaseback transactions, operating and leveraged leases, export credit agency financings, mortgage financings, pooled collateral/warehouse loan facilities, asset-backed securitizations, secured and unsecured bond issuances and enhanced equipment trust certificate transactions. His work also encompasses aircraft and railcar investment fund formations and joint ventures.

With a calm demeanor during difficult and high-pressure situations, Clay maintains a balanced perspective and a steady approach to his clients’ transactions. His background as a tax accountant at a public accounting firm focusing on corporate, partnership, and international taxation also gives him an advantage in understanding financial statements, accounting and tax issues that influence many of his clients’ transactions.

Experience

• Advised a rail industry client in an acquisition financing for a large portfolio of railcars, including structuring the asset- and lease-level servicing aspects to serve as a platform for future structured finance initiatives. 
• Closed multiple issuances of secured bonds in a programmatic facility collateralized by secured aircraft loan facilities for the underwriters and financial arrangers. 
• Represented a maritime industry borrower in a delayed draw warehouse loan facility secured by multiple business liens with widely varied collateral types in a structure novel to the industry. 
• Advised on multiple asset-backed term securitization transactions for a commercial aircraft lessor secured by portfolios of commercial aircraft and related operating leases. 
• Represented lenders in a bankruptcy-remote, revolving warehouse facility provided to an operating lessor to facilitate the acquisition and refinancing of a variety of commercial aircraft and engine assets. 
• Guided an issuer in a first-of-its-kind asset-backed term securitization transaction secured by a portfolio of inland and coastal waterway vessels and related bareboat charters.