Ji Hoon Hong | White & Case LLP International Law Firm, Global Law Practice
Ji Hoon Hong
Ji Hoon Hong

Ji Hoon Hong

Partner, Seoul

“Ji Hoon Hong is a well regarded asset finance partner, known for his expertise in structured debt capital markets transactions and asset-backed securitisations. Clients say he is “very thorough, and very creative in helping us figure out a pragmatic path to accomplishing our goals.””

Chambers Global 2017

Overview

Ji Hoon Hong is a partner in the Asset Finance practice of White & Case. He has extensive experience in a wide range of capital markets, bank finance and debt restructuring transactions. He has been focused on structured secured debt financings involving aviation, shipping and rolling stock equipment, especially debt capital markets transactions such as Enhanced Equipment Trust Certificates and, following his transfer to the Firm's Seoul office, serving Korean financial institutions on a variety of financing and debt restructuring matters.

His experience also includes a broad range of capital markets transactions involving offerings of common or preferred stock, convertible debt, investment grade debt and high-yield debt and liability management transactions. He also worked on syndicated credit facilities secured by aircraft, engines, spare parts, airport slots, vessels and other assets. His debt structuring experience includes cross-border private sector financial restructurings and sovereign debt restructuring (including Brazil, Ecuador and South Korea).

Mr. Hong is recognized by independent legal directories, including in the asset finance and leasing section of the 2013/2014 edition of Legal 500 – United States. Mr. Hong is also ranked as a leading lawyer for asset finance and aviation finance in Chambers Global and Chambers USA every year since 2013.

Bars and Courts

  • Registered Foreign Legal Consultant, Korea
  • New York State Bar

Education

  • JD, Harvard University
  • SB, Massachusetts Institute of Technology
  • Seoul National University

Languages

  • English
  • Korean

Experience

Financial restructuring of Seadrill Limited and its subsidiaries – ongoing

Representation of the coordinating committee of secured bank creditors in connection with a financial restructuring of Seadrill Limited and its subsidiaries with respect to the exposure of Korean export credit agencies.

United Arab Shipping Company / Hapag-Lloyd AG merger – 2017

Representation of United Arab Shipping Company in its merger with Hapag-Lloyd AG in connection with the amendments or restructurings of multiple container vessel financing facilities, including the restructuring of enhanced maritime trust certificates.

Korean banks' acquisition financing – 2017

Representation of The Export-Import Bank of Korea and The Korea Development Bank in connection with the commitment documents for an acquisition financing for a Korean company's bid for the acquisition of certain US petrochemical facilities.

Citibank and other lead arrangers in American Airlines' secured credit facilities – 2014-2016

Representation of Citibank and the other lead arrangers in connection with American Airlines' main secured credit facilities secured by airport slots and other assets and multiple amendments and restatements thereof.

Spirit Airlines / EETC Offering, 2015

Representation of Citigroup and Morgan Stanley as the lead underwriters in connection with the inaugural offering of $576 million aggregate face amount of enhanced pass-through certificates by Spirit Airlines, Inc.

Delta Airlines / EETC Offering, 2015

Representation of Morgan Stanley and Credit Suisse as the lead underwriters in connection with the offering of $500 million aggregate face amount of enhanced pass-through certificates by Delta Airlines, Inc.  

Crédit Agricole Corporate and Investment Bank / CIT Aviation Finance III Ltd., 2014

Representation of Crédit Agricole Corporate and Investment Bank as the liquidity facility provider in connection with an aircraft portfolio securitization by CIT Aviation Finance III Ltd. involving the issuance of US$640 million aggregate principal amount of asset-backed notes.

American Airlines / Debtor-In-Possession EETC Offerings, 2013

Representation of  the structuring agents / initial purchasers (including Deutsche Bank Securities, Morgan Stanley and Credit Suisse) in connection with four separate offerings of enhanced pass-through certificates by American Airlines as debtor-in-possession financings during the pendency of its chapter 11 cases, raising the proceeds totaling approximately US$2.7 billion.

Delta Air Lines / EETC Offering, 2012

Representation of the underwriters (led by Deutsche Bank Securities, Credit Suisse, Goldman Sachs and Morgan Stanley) in connection with an offering of US$479,892,000 aggregate face amount of enhanced pass-through certificates by Delta Air Lines.

Federal Express Corporation / Pass Through Certificates Offering, 2012

Representation of Deutsche Bank Securities as the sole initial purchaser in connection with an offering of US$250,071,000 aggregate face amount of pass-through certificates by Federal Express Corporation in the first non-bankruptcy refinancing of enhanced pass-through certificates.

Speaking Engagements

"Widening the ABS programme to tap the institutional investor base — is the yield high enough to attract Korean investors?", March 2017: Korea Airfinance Conference, (moderator)

Publications

  • Growth sharing rights: the instrument to save the eurozone? ― opinion, International Financial Law Review, November 19, 2012
  • Enhanced Aircraft Debt Securitisation Structures, Commercial Aviation Report, May 1, 1997
  • Brazil's commercial bank debt restructured, International Financial Law Review, November 1994, (co-author)

Awards & Recognition

Leading Lawyer, The Legal 500 – United States 2014

Leading Lawyer, Chambers Global and Chambers USA 2013 - 2017