
Niels Jensen

The Grace Building
1114 Avenue of the Americas
32nd Floor
New York, New York 10036





Niels is a partner and co-head of the Aviation Finance Team. Niels’ practice focuses on esoteric structured finance transactions and on a broad range of aviation transactions, including corporate, asset-backed and structured financings in the loan and capital markets, restructurings and joint ventures.
Experience Highlights
PureWest Energy, LLC, a leading Rocky Mountain independent natural gas producer, in connection with the first-of-its-kind issuance of investment-grade rated subordinated notes out of two existing PDP well securitizations through an aggregator vehicle
Underwriters and arrangers in American Airlines’ “Big Bang” $4.5 billion recapitalization involving the offering of senior secured notes, convertible notes and new equity; Recognized as “Recapitalization Deal of the Year” by Airline Economics in 2021
Underwriter in SOLRR 2021-1, a $707 million aircraft-backed securitization serviced by Stratos and Altavair and the first aircraft ABS with two unaffiliated servicers
Note purchasers in a $1 billion bond issuance by American Airlines, one of the first airline financings to significantly leverage brand and trademark intellectual property; The transaction was the largest private placement in the US by any investor in the airline market at the time and was recognized as “Innovative Deal of the Year” by Airfinance Journal in 2020
Sponsors and servicers on JOL Air 2019-1, the first aircraft-backed ABS combining a debt securitization with a Japanese operating lease structure; Recognized as “ABS Deal of the Year” by Airfinance Journal in 2019
Underwriters in American Airlines’ 2019-1 Engines EETC, the airline’s first broadly distributed private placement engine EETC; Recognized as “EETC Deal of the Year” by Airfinance Journal and as “Americas Debt Deal of the Year” by Airline Economics in 2019
PureWest Energy, LLC, a leading Rocky Mountain independent natural gas producer, in connection with the first-of-its-kind issuance of investment-grade rated subordinated notes out of two existing PDP well securitizations through an aggregator vehicle
Jonah Energy LLC, one of the leading sustainable natural gas producers in the U.S., in its inaugural securitized financing transaction involving $750 million of fully amortized notes backed by a portion of Jonah’s producing assets
White Deer Energy, on behalf of its portfolio company, Riverside Energy Michigan, the largest producer of oil and natural gas in Michigan, in a securitization transaction and private placement of $240 million of 4.802% Notes (due May 2027)
Underwriter in SOLRR 2021-1, a $707 million aircraft-backed securitization serviced by Stratos and Altavair and the first aircraft ABS with two unaffiliated servicers
Underwriters in LUNRR 2020-1, a $409 million aircraft-backed securitization serviced by DVB
Underwriters in SAPA 2020-1, a $620 million aircraft-backed securitization and equity offering serviced by Avolon; Recognized as “Overall Capital Markets Deal of the Year” by Airfinance Journal in 2020
Underwriters in the START 2018-1, START 2019-1 and 2019-2 aircraft-backed securitizations and equity offerings serviced by GECAS; START 2018-1 was the first aircraft ABS that sold equity in a 144A/Reg S format and was recognized as “ABS Deal of the Year” by Airfinance Journal in 2018
Underwriters in the Horizon 2018-1, 2019-1 and 2019-2 aircraft-backed securitizations and equity offerings serviced by BBAM; Horizon 2019-2 was the first aircraft-backed ABS featuring tradable equity certificates offered to passive equity investors without an anchor investor; Recognized as “ABS Equity Deal of the Year” by Airfinance Journal in 2019
Underwriters in Falcon 2019-1, a $514 million aircraft-backed securitization and equity offering serviced by Dubai Aerospace
Equity investors in Sapphire 2018-1, a $768 million aircraft-backed securitization serviced by Avolon
Equity investors in Falcon 2017-1, a $410 million aircraft-backed securitization serviced by Dubai Aerospace
Underwriters in KDAC 2017-1, a $723 million aircraft-backed securitization serviced by DVB
Underwriters in S-Jets 2017-1, a $871 million aircraft-backed securitization serviced by Sky Leasing
Lenders in Titan’s warehouse facility secured by freighter aircraft, which was structured and closed during the COVID pandemic; Recognized as “Freighter Finance Deal of the Year” by Airline Economics in 2021
Lenders in Castlelake’s warehouse facility to finance aircraft leases and aircraft loans, one of the first facilities financing both aircraft leases and aircraft loans
Lenders in a warehouse facility secured by passenger aircraft for funds managed by Sculptor Capital Management
Lenders in five separate warehouse facilities secured by aircraft for funds managed by Sky Leasing
Lenders in two innovative warehouse facilities secured by end-of-life aircraft for entities owned by Aero Capital Solutions, one of which was recognized as “Editors’ Deal of the Year” by Airfinance Journal in 2018
Lenders in a warehouse facility secured by aircraft for Stellwagen
Underwriters and investors in Air Canada’s EETC offerings, Series 2015-1, 2015-2, 2018-1
Underwriters in Alaska Airlines’ EETC offering, Series 2020-1
Underwriters and investors in American Airlines’ EETC offerings, Series 2015-1, 2015-1C, 2015-2, 2016-1, 2016-2, 2016-2B, 2016-3, 2016-3B, 2017-1, 2017-1C, 2017-2, 2017-2B, 2017-2C, 2011-1B(R), 2019-1 (engines), 2019-1C (engines), 2019-1, 2012-B(R), 2020-1 (super C) and 2021-1
Underwriters in British Airways’ EETC offering, Series 2020-1
Underwriters and investors in Delta Air Lines’ EETC offerings, Series 2019-1, 2019-1B, 2020-1 and 2020-1B
Underwriters in JetBlue’s EETC offerings, Series 2019-1 and 2020-1
Underwriters and investors in LATAM Airlines’ EETC offerings, Series 2015-1 and 2015-1C
Underwriters in Norwegian Air Shuttle’s EETC offering, Series 2016-1
Underwriters in United Airlines’ EETC offerings, Series 2015-1, 2016-1, 2016-1B, 2016-2, 2016-2B, 2018-1 and 2019-1
Agent and lenders in connection with Alaska Airlines $400 million secured revolving credit facility
Lender and Administrative Agent, in a senior secured multi-draw term loan to funds managed by Aero Capital Solutions secured by aircraft to several airlines
Large private equity fund in a $650 million senior secured direct lending facility provided to a maintenance, repair and overhaul provider
Arrangers and agent in a syndicated $1.5 billion senior secured term loan facility for Delta Air Lines secured by slots, gates and routes collateral
Lenders in a $500 million senior secured 364-day facility for Air Canada
Arrangers and agent in a syndicated $450 million senior secured term loan facility for Allegiant
Brazilian airline in a $250 million senior secured term loan facility provided by Delta Air Lines
Arranger and agent in a syndicated $850 million senior secured term loan for United Airlines
Underwriters in a $2.5 billion notes offering by American Airlines secured by slots, gates & routes collateral
Purchasers in a $1 billion notes offering by American Airlines secured by intellectual property
Purchasers in a $200 million notes offering by American Airlines secured by a second lien over slots, gates & routes collateral
Underwriters in a $3.5 billion notes offering by Delta Air Lines secured by slots, gates and routes collateral
Aircraft lessor in connection with its recapitalization
EETC certificate holders and claim holders in LATAM Airlines Group’s chapter 11
JCPenney’s first-lien lender group in the structuring of a liquidating trust for the retail and distribution center properties received by the group in JCPenney’s chapter 11 proceeding
One of Europe’s leading private equity firms on its sale of AWAS to Dubai Aerospace
Global investment management firm focused on the aviation industry on its acquisition of Chinese-owned aircraft leasing business
An end-of-life aircraft asset manager in connection with the creation of a new joint venture
Credentials
- Vanderbilt University Law School, J.D., 2011 (Vanderbilt Law Review, Editor)
- Belmont University, B.B.A., cum laude, 2007
- Chambers USA, Transportation: Aviation Finance (Nationwide), 2023
- Legal 500 U.S., Transport: Aviation and Air Travel: Finance, 2022 and 2023; Finance: Commercial Lending, 2023
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Airline Economics, “40 Under 40”, 2022
- Airfinance Journal, Rising Star, 2020
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JD Supra Reader’s Choice Awards, Top Author – Transportation, 2023
- New York
- German (fluent)
- Rankings & AwardsJune 12, 2023
- Rankings & AwardsJune 1, 2023
- Deals & CasesJune 1, 2023
- Deals & CasesJune 1, 2023
- InsightMay 30, 2023
V&E Finance Update
- InsightMay 4, 2023
V&E Aviation Finance Update
- InsightJanuary 31, 2023
V&E Finance Update
- InsightJanuary 30, 2023
V&E Aviation Finance Update
- InsightNovember 17, 2022
V&E Aviation Finance Update
- Deals & CasesOctober 31, 2022
- Deals & CasesOctober 21, 2022
- InsightSeptember 14, 2022
V&E Aviation Finance Update
- Event RecapSeptember 14, 2022
- Rankings & AwardsSeptember 1, 2022
- InsightAugust 25, 2022
V&E Aviation Finance Update
- InsightAugust 17, 2022
V&E Aviation Finance Update
- InsightJune 15, 2022
- Rankings & AwardsJune 16, 2022
- InsightMay 23, 2022
V&E Aviation Finance Update
- InsightMarch 29, 2022
V&E Aviation Finance Update
- Rankings & AwardsMarch 29, 2022
- Press ReleaseJanuary 18, 2022
- “How to Kill the Scapegoat: Addressing Offshore Tax Evasion with a Special View to Switzerland,” 63 V and. L. Rev. 1823, November 23, 2010