Skip to main content

Clifford Chance

Zarrar Sehgal

Zarrar Sehgal


Find a Lawyer

Zarrar Sehgal

Zarrar Sehgal is the Head of the Banking & Finance practice area in the Americas. He concentrates his practice on a wide variety of international asset finance transactions, including acquisition financing, leveraged leasing, EETC transactions, secured lending, structured financing, export credit agency-supported financings and credit enhancements. He also has extensive experience representing underwriters and issuers in public offerings and private placement of securities, including portfolio securitizations and debt and equity offerings.

Zarrar has particular expertise in financings involving aircraft and has worked on several of the most significant securitizations and financings in the market, including many transactions that have been awarded 'Deal of the Year' awards from industry publications.

  • BBAM in connection with the $1.2 billion ABS issuance by Element Financial Corporation, backed by 49 narrowbody and widebody aircraft. This ABS issuance represents the first $1 billion + issuance since 2008 Airfinance Journal Awards 2016: North American Deal of the Year
  • Avolon Holdings Limited in its US$10.38 billion acquisition of the aircraft leasing business of CIT Group
  • Milestone Aviation Group in connection with a US Ex-Im Bank guaranteed US$187.4 million bond to finance the export of Sikorsky S-92 helicopters, Ex-Im Bank's largest financing of U.S.-manufactured commercial helicopter exportsGoldman Sachs in connection with the issuance by Apollo Aviation Securitization
  • Equity Trust 2014-1 of US$556 million of senior secured asset-backed loans which are secured by 40 aircraft (Airfinance Journal Awards 2015: North American Deal of the Year)
  • Goldman Sachs in connection with the issuance by ATLAS 2014-1 Limited and ATLAS 2014-1 LLC of US$540 million of senior secured asset-backed loans which are secured by 30 aircraft to be sold and serviced by Aldus Aviation (Airfinance Journal Awards 2015: Capital Markets Deal of the Year)
  • AWAS on its first private placement term loan. Proceeds from the US$350 million transaction were used to repay the existing debt on ten narrow-body aircraft and for general corporate purposes
  • BOC Aviation in connection with their US$500 million asset backed securitization, backed by 24 aircraft to be acquired from BOC Aviation by Shenton Aircraft Investment I Ltd. and affiliates
  • DVB Bank and certain of its affiliates as Seller and as Servicer in connection with the issuance by AIM Aviation Finance Limited and AIM Aviation Finance USA LLC of US$667 million of senior secured notes which are secured by 20 aircraft
  • Credit Agricole Securities (USA) Inc. as Structuring Agent and a Joint Bookrunner and Goldman, Sachs & Co. as a Joint Bookrunner in connection with the issuance by Willis Lease Finance Corporation's wholly owned subsidiary, Willis Engine Securitization Trust II, of US$390 million of senior secured notes which are secured by 79 aircraft engines acquired from Willis Lease Finance Corporation (Airfinance Journal Awards 2012: Engine Deal of the Year)

Contact details

Career and qualifications

  • Georgetown University Law Center (JD) 1997
  • Admitted as an Attorney-at-Law in New York 1998
  • Joined Clifford Chance as a Partner 2006

Awards and citations

  • Zarrar Sehgal has been ranked as Band 1 in Chambers USA – Transportation: Aviation – Finance (Nationwide). "Zarrar Sehgal is a 'tremendous lawyer' who is considered a go-to for aviation finance transactions. He covers a range of matters, including enhanced equipment trust certificate (EETC) transactions and leveraged leasings."
    Chambers USA 2018 – Transportation: Aviation – Finance (Nationwide)