London-­‐based  aviation  finance  arranger  Magi  Partners,  working  in  conjunction  with  its  Seoul-­‐based joint venture partner Youjee Partners, has arranged the purchase of an A380-­‐800 on lease to Emirates from Stellwagen Finance Company Limited, the holding company for Aviation Finance  Company (“AFC”).  AFC initially arranged 100% of the bridge capital for Magi Partners  and Youjee Partners, facilitating the lease novation and sale.

Magi  Partners  and  Youjee  Partners  have  placed  the  operating  lease  for  the  A380-­‐800  entirely  with the Korean institutional investor market by means of a private placement with a group of Korean  non-­bank  financial  institutions,  investing  through  a  Korean  fund  structure.  This  transaction marks the first A380-­‐800 operating lease financed entirely by Korean investors.

Lease  management  services  to  the  Korean  investors  are  being  provided  by  Magi  Partners  Aircraft Management Limited (“MPAM”).

Yulchon  LLC  (Seoul),  Clifford  Chance  (Singapore)  and  Walkers  (Cayman)  acted  for  the  Korean  investors; Allen & Overy (London) acted for AFC and Pillsbury Winthrop Shaw Pittman acted for Emirates.