Firm Advises on Two Deals of the Year
February 11, 2008, Airfinance Journal

White & Case played a key role on two of the matters named Deals of the Year 2007 at the annual Airfinance Journal Awards: Cargo Deal of the Year, and Aerospace Deal of the Year.

In the deal named Cargo Deal of the Year, the Firm advised Pegasus Aviation Finance Company, an aircraft operating lessor, in the financing of one Boeing 747-400 freighter aircraft. The transaction included a senior secured loan from ING Capital, which was guaranteed by Export-Import Bank of the United States, an accreting SOAR loan from NordLB and a junior loan from a luxembourg financial institution and was combined with a Luxembourg lease structure.  Simultaneously with the closing of the financing, the aircraft was leased to Cargolux Airlines International for a term of up to 12 years.  During the negotiation of this transaction, AWAS acquired Pegasus Aviation.
 
New York-based partner Michael Smith was the lead lawyer for White & Case on this matter, Jim Hayden and Ray Simon provided tax advice, and Mehtap Cevher-Conti and Oliver Pfaff provided corporate and aircraft finance advice.
 
On the 2007 Aerospace Deal of the Year, White & Case advised Natixis Transport Finance in the purchase from a subsidiary of Embraer-Empresa Brasileira de Aeronáutica of $194 million of loans made to certain of Embraer’s airline customers secured by the aircraft.

Michael Smith was the lead White & Case lawyer, Ray Simon provided tax advice, and Steven Ross, Irena Tumova, Geoffrey Lanning, Alex Hao and Raymond Azar also advised Natixis Transport Finance.

White & Case was earlier credited on the winning Asia Pacific Deal of the Year 2006, advising ING as arranger and co-lender, together with BNP Paribas, on the Japanese operating lease financing of one B-777-200ER aircraft for Air New Zealand, incorporating New Zealand dollar debt for the first time.
 
Airfinance Journal also published its Guide to Aviation Lawyers in 2007, which featured the results of a survey into the top aviation law firms. White & Case ranked highly – among the top five – in all seven categories, including best after deal support, most commercially aware, and most innovative. Over 150 aviation professionals, mainly airlines, banks and lessors, voted for their top five law firms in each category.

Complete listing of White & Case's Awards, Rankings and League Tables