BBAM | Commercial loan | 08-16 | $1.089bn | 9x787-8 | Transaction | Airfinance Journal

BBAM | Commercial loan | 08-16 | $1.089bn | 9x787-8

MSNs: 36273, 36274, 36287, 36288, 36289, 36290, 36291, 36292, 36293;

Syndicated Loan Asset Backed Financing –structured as sale and leaseback financing facilitated with a combination of GOI-guaranteed Senior Loans and Junior Loans. The transaction was complex involving coordination between 24 different entities including a syndicate of senior lenders, junior lenders, borrowers, facility and security agents, guarantor, manufacturer, insurers and remarketing agent in multiple jurisdictions. The transaction required appointment of over 12 separate legal counsels in a variety of jurisdictions.

For the portfolio of 9 Boeing B787-8 aircraft, financing has been facilitated by a combination of GOI-guaranteed Senior Loans and Junior Loans. Seven special purpose companies were created in order to finance the nine aircraft (these seven SPCs were part of two different trust structure; orphan trust and owner trust). The split borrower arrangement was to take into account legal and tax implications given the diversity of parties involved.

Deutsche Bank, SG Branch – Overall Transaction Arranger, Mandated Lead Arranger and Book runner, Junior Lender
Bank of India, London Branch - Mandated Lead Arranger, Senior Lender
Export Import Bank of India, London Branch - Mandated Lead Arranger, Senior Lender
Industrial and Commercial Bank of China(ASIA) Limited - Mandated Lead Arranger, Senior Lender
Wells Fargo Bank Northwest, National Association - Security Trustee; Senior Agent; Account Bank
Fly Leasing Limited- Junior Agent, Junior Lender and Owner Participant
Incline Aviation Limited - Junior Agent, Junior Lender and Owner Participant
BBAM US LP and BBAM Aviation Services Limited- Remarketing Agent


Deal Categories

Regions:
South Asia
India
Tagged as:
Secured
Syndicated
BRICS

Structure

Product category:
Other
Product type:
Aircraft purchase
Structure
Aircraft Purchase
Use of proceeds
Aircraft Purchase

Deal Categories

Regions:
North America
United States
Tagged as:
Secured
G8