Maples and Calder advised Sapphire Aviation Finance I Limited, as issuer, and Avolon Aerospace Leasing Limited, as seller, as to Cayman Islands and Irish law in connection with a US$768.4 million offering of aircraft asset backed fixed rate secured notes involving a portfolio of 41 aircraft on lease to 30 lessees located in 19 countries. The transaction was completed on 23 March 2018.
The offering consisted of three tranches of notes, all of which are listed on the Cayman Islands Stock Exchange and in respect of which Maples and Calder acted as Cayman Islands listing agent, plus E Notes and S Certificates. Avolon will act as servicer to the portfolio. MaplesFS Limited provided share trustee and related administration services.
The Maples and Calder legal team in the Cayman Islands was led by partner Jonathon Meloy along with associates Anthony Philp and Barnabas Finnigan, while the Irish legal team was led by partner Donna Ager supported by of counsel Mary O'Neill and associates Laura Sharkey and Eoin O'Leary.
Global Head of Maples and Calder's Finance group, Mark Matthews, commented, "Having advised our longstanding client Avolon on its inaugural aircraft securitisation in 2013 it was a pleasure to advise them in their capacity as servicer for this deal, providing seamless trustee and administration support and Cayman Islands and Irish legal advice."
About Maples and Calder
Maples and Calder is a leading international law firm advising financial, institutional, business and private clients around the world on the laws of the Cayman Islands, Ireland and the British Virgin Islands. Maples and Calder has offices in the British Virgin Islands, Cayman Islands, Dubai, Dublin, Hong Kong, London and Singapore.
With a reputation as an innovative, entrepreneurial firm, Maples and Calder is known worldwide as a market leader with highly qualified lawyers who are specialists in their respective practice areas.
Established in 1967, Maples and Calder celebrated 50 years of award winning excellence in 2017.
MaplesFS, through its divisions Maples Fiduciary, Maples Fund Services and Maples Private Client Services, is an independent global provider of specialised fiduciary, corporate formation, administration and trust and private client services. With offices in key locations around the world, its clients include global financial institutions, institutional investors, investment managers and international corporations.
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