Asset Finance

Financing & capital markets

• Representation of Hassana Investment Company in the establishment of an aircraft leasing platform as a joint venture with AviLease for the acquisition of an initial ten Airbus A320neo aircraft on lease to airlines in Saudi Arabia, including all aspects of the joint venture arrangements, the related Shari'a-compliant financing, hedging, and asset and lease transfer documentation. The deal won "Structured Finance Deal of the Year" at the Airline Economics Aviation 100 Awards for the Middle East, Africa & Islamic Finance.
• Representation of JetBlue and JetBlue Loyalty LP in connection with its US$3.2 billion financing, consisting of a US$2 billion aggregate principal amount of its 9.875% secured notes due 2031; a US$765 million senior secured term loan B; and a US$400 million aggregate principal amount of its 2.500% convertible senior notes due 2029. Both the secured notes and term loan are secured by the loyalty assets of JetBlue. These financings won "Structured Finance Deal of the Year" at Airline Economics' 2025 Aviation 100 Global Leaders Awards.
• Representation of CLMG Corp., as administrative agent and collateral agent, and Beal Bank USA, as lender, in connection with a financing for Otto Candies to acquire four offshore support vessels. Otto Candies is a leading Jones Act operator and provider of marine transportation services in the Gulf of Mexico. The deal won Marine Money's "Jones Act Deal of the Year" 2025.
• Representation of Nordea Bank in a comprehensive amendment to global tanker company International Seaways' (NYSE: INSW) senior secured credit facilities, which allowed INSW to refinance its existing revolving and term loan facilities with a US$500 million sustainability-linked revolving credit facility that was used for general corporate and working capital purposes. The deal won Marine Money's "Bank Debt Deal of the Year" 2024.
• Representation of Aviation Capital Group in connection with the ECA financing of two Airbus A320 aircraft, with J.P. Morgan as lender, and support from UKEF, Bpifrance and Euler Hermes. The aircraft were leased to SKY Airline.
• Representation of Lockheed Martin Global, Inc. in an agreement for an offset contract with the Polish Ministry of Defense, as part of the Apache supply program, for several commitments relating to, among others, technology transfer to the Polish defense sector, and the establishment of service and repair facilities in Poland supporting Apache attack helicopter maintenance and operations based on Polish companies from the defense sector.
• Representation of the lenders in the financing of the US$540 million Indonesia Government Multifunction Satellite Public Private Partnership (PPP) Project, the first telecommunication satellite PPP project in Indonesia. The financing was provided by a number of financial institutions including the Asian Infrastructure Investment Bank (AIIB), HSBC, Banco Santander and Korea Development Bank (KDB), and guaranteed by Banque publique d'investissement (Bpifrance), the French Export Credit Agency. This deal won "Asia Pacific Telecom Deal of the Year" by PFI Awards 2021.

M&A, investment & portfolio transactions

• Representation of Universities Superannuation Scheme (USS) in its acquisition of 100 percent of VTG Rail UK, the UK's largest lessor of rail freight wagons, with a fleet of more than 4,000 wagons, from VTG GmbH.
• Representation of UAE-based investment firm Magellan Capital in the acquisition of a majority stake in Danmarks Skibskredit (Danish Ship Finance) from Nordic private equity firm Axcel, and Danish pension funds PFA and PKA. Danish Ship Finance is known for ambitious strategic climate goals focused on "accelerating the global transition of shipping towards zero emissions."

Restructuring, insolvency & enforcement

• Representation of Azul Airlines, a leading Brazilian airline, in the restructuring of its aircraft lease obligations across its fleet, as well as the restructuring of its obligations to original equipment manufacturers and existing bondholders. This transaction was awarded "Restructuring Deal of the Year" by Airline Economics and "Liability Management Deal of the Year" by Bonds & Loans Latin America & Caribbean Awards. We also subsequently represented Azul in the successful completion of its comprehensive financial restructuring under chapter 11 of the US Bankruptcy Code.