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North America - United States • Transport

Vedder Price

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Vedder Price‘s ’experience and expertise are unmatched’. The firm’s global transportation finance team fields asset finance and securitization specialists from Chicago, New York, DC, Dallas, San Francisco and Los Angeles, as well as from London and Singapore. Representing lessors, lenders, manufacturers, government agencies, equity investors and operators, the team acts on rail asset-related domestic and international leasings as well as on debt financing, and its transactional experience ranges from railcar purchases and sales to complex securitizations of railcar portfolios. The team additionally assists equity investors with acquiring and establishing new railcar leasing platforms as well as with structuring strategic joint ventures with railcar lessors and manufacturers. Michael Draz is a specialist in rail financing structures involving securitizations, warehouse loan facilities, cross-border operating and leveraged leases, and portfolio acquisitions and divestitures. John Bycraft, Clay Thomas in Los Angeles, and Jillian Greenwald ‘have probably done more railcar financing transactions than any other team in the country’. The practice also includes New York-based transportation finance expert Jeffrey Veber, while Geoffrey Kass is global transportation finance practice chair.  In a boost to the team, railcar financing structure specialist Joel Thielen was promoted to shareholder in March 2023. All attorneys named are based in Chicago unless otherwise mentioned.

Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

  • ‘Best in class’.
  • ‘The team’s experience and expertise are unmatched.’
  • ‘They have a great grasp of what market practice is and the direction the market is moving in.’
  • ‘Good depth and with a keen eye for detail.’
  • ‘Michael Draz is an excellent counselor in general, but specifically for railroad and transportation work.’
  • ‘Michael Draz is collaborative and at the same time an expert with authority, especially when dealing with the counterparty.’
  • ‘Michael Draz and Jeffrey Veber are standouts.’
  • ‘John Bycraft, Clay Thomas, and Jillian Greenwald have probably done more railcar financing transactions than any other team in the country.’

Key clients

  • Chicago Freight Car Leasing Co
  • Atlas SP
  • Export Development Canada
  • Greenbrier
  • ITE Management
  • J.P. Morgan Asset Management
  • National Steel Car Limited
  • Riverside Rail
  • PNW Railcars, Inc.
  • Stonebriar Commercial Finance
  • Trinity Industries, Inc.

Work highlights

  • Represented GBX Leasing in the upsize and extension of its $550m railcar warehouse loan facility.
  • Represented Trinity Rail Leasing 2023 LLC in a $510m railcar term loan financing.

Lawyers

Hall of fame

The lawyers at the very top of the profession, widely known and respected by peers and clients for their longstanding involvement in market-leading work.

Leading associates

Rising stars with regular involvement in their team's key work, and recognition from peers or clients as being ones to watch.

Leading partners

The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.

Next generation partners

Junior partners with significant recognition from clients and peers in the market and key roles on multiple matters.

Practice head

The lawyer(s) leading their teams.

Geoffrey Kass

Other key lawyers

Michael Draz, John Bycraft, Clay Thomas, Jillian Greenwald, Jeffrey Veber, Joel Thielen