Our global Asset Finance team has advised on a US$870m senior secured debt facility arranged by Investec Bank plc (IBP) to finance a portfolio of 11 widebody aircraft acquired by a fund in partnership with FPG Amentum, which will manage the aircraft portfolio.
The aircraft portfolio, comprising Boeing and Airbus widebody aircraft, is leased to a number of Tier 1 Middle Eastern carriers.
The loans are secured against the aircraft portfolio and features a tailored financing structure designed to accommodate multiple aircraft types, varying lease tenors and multi-currency rental streams. The senior secured facility provides lease-aligned financing across the portfolio and supports the ongoing management of the aircraft throughout the life of the underlying leases.
Donna Ager, partner in our Ireland Asset Finance team, commented: 'The transaction highlights the continued confidence of the banking sector in aviation and demonstrates the increasingly sophisticated financing solutions required to support large-scale aircraft portfolio acquisitions involving perse assets and lease arrangements. The deal underscores the strength of our relations with banks active in aviation finance globally, in particular with IBP who continue to drive the market forward with innovative debt financing solutions.'
Sarah Humpleby, partner in our Cayman Islands Asset Finance team, added: 'Advising on this transaction provided an opportunity to support a complex, multi-jurisdictional financing that underscores the continued evolution of the aviation finance market.'
Our multi-jurisdictional team was led by partners Donna Ager and Sarah Humbleby, who advised on the Irish and Cayman Islands law aspects of the transaction, with support from Sophia Hitchcock on Irish law matters and Gareth Lond on BVI and Cayman Islands law matters.
The transaction demonstrates the strength of our global asset finance offering, with lawyers across our Cayman Islands, Dubai and London offices working together to deliver a seamless, time zone-efficient cross-border service.