Aircraft finance deals 2017

Aircraft finance deals 2017

 

Borrower: VietJet
Issuers: Mitsubishi UFJ
Assets: Three A321s
Size: $348 million


Issuer: Avation Capital
Tranche number: 002
Existing Notes: $100 million
Reopening Size: $20 million
Assets: one ATR72-600
Coupon: 7.5%
Maturity: 27 May 2020
Rating: B+ (Fitch), B (Standards & Poor’s)

Bookrunner: DBS Bank


Issuer: Hyundai Asset Management
Underwriter: NH Investment & Securities
Assets: two Qatar Boeing 777-300ERs
Size: $300 million


Issuer: KTB Investment
Size: $82 million
Date: 25 May
Tranches: Three
Duration: four years
Asset: A330-300


Issuer: Minsheng Financial Leasing (MFL)
Assets: four A320-200s
Arrangers: Credit Agricole CIB and Korea Development Bank
Advisers: Watson & Farley Williams


Borrower: Apollo Aviation Management
Issuers: AASET 2017-1
Date: 22 May 2017
Size: $612.2 million

Assets: 32 aircraft

Class A
Size: $479.45 million
Coupon: TBD
Initial LTV: 65%
Final maturity: May 2042
Rating: A (Kroll)

Class B
Size: $88.5 million
Coupon: TBD
Final maturity: May 2042
Rating: BBB (Kroll)
Initial LTV: 77%

Class C
Size: $44.2 million
Coupon: TBD
Final maturity: May 2042
Initial LTV: 83%

Servicer: Apollo Aviation Management
Global coordinator, lead bookrunner and structuring agent: Goldman Sachs
Liquidity facility provider: DVB Bank SE
Managing Agent: Phoenix American Financial Services


Issuer: CALC
Size: HK$505 million
Type: Finance Lease Receivables (FLR)
Assets: Two A320ceo


Issuer: Arctic Aviation Assets
Assets: six Boeing 737 MAX 8s
Type: Sale and Leaseback
Date: 4 May 2017


Issuer: ALC
Type: Credit facility extension
Extension size: $3.5-$3.7 billion
Type: Unsecured revolving credit facility
Maturity 5 May 2020 and 5 May 2021
LIBOR: 105 basis with a 20 basis point facility fee


Borrower: Air Canada
Arranger: FPG AIM
Assets: Boeing 787-9
Date: Febuary 2017
Advisor: Skyworks Capital
Underwriters FPG Japan, DVB Bank and Mega Bank


Issuer: Scandinavian Airlines
Arranger: Asset Brok’Air
Assets: Three B737-800s and four B737-700s
Type: JOLCO


Issuer: Heungkuk Asset Management
Date: 24 April 2017
Size: $114 million
Assets: Boeing 777-300ER


Issuer: Thunderbolt Aircraft Leasing
Servicer: Air Lease Corporation
Date: 17  April 2017
Size: $253.4m
Interest: TBD
Final Maturity: May 2032
Initial LTV: 58.1%
Rating: A (Kroll)
Term: 15 years
Lead Bookrunners: Bank of America, Merril Lynch and Mizuho Securities.

Issuer: Thunderbolt Aircraft Leasing
Servicer: Air Lease Corporation
Date: 17  April 2017
Size: $69.3m
Interest: TBD
Final Maturity: May 2032
Initial LTV: 73.9%
Rating: BBB (Kroll)
Term: 15 years
Lead Bookrunners: Bank of America, Merril Lynch and Mizuho Securities.

Issuer: Thunderbolt Aircraft Leasing
Servicer: Air Lease Corporation
Date: 17  April 2017
Size: $22m
Interest: TBD
Final Maturity: May 2032
Initial LTV: 79%
Rating: BB- (Kroll)
Term: 15 years
Lead Bookrunners: Bank of America, Merril Lynch and Mizuho Securities.

Borrower Type: Lessor


Issuer: BPA International

Size: $200 million
Maturity: 30 June 2017
Income distribution: 8%pa
Target IRR: 12.5%pa
Regulator: CSSF Luxembourg
Platform: Compartment of BPA International, S.C.A., SICAV-FIS


Issuer: STLC (GTLK)
Type: Domestic Bond
Size: Ru10 Billion
Settlement date:  9 Febuary 2017
Maturity: 22 January 2032
Issue price: 100%
Coupons: Two (11.4–11.7%)
Frequency: four times per annum

Bookrunners: Gazprombank, BINBank, Sovcombank
Underwriter: IFC Solid Moscow Exchange


Issuer: LATAM Finance
Date: 6  April 2017
Maturity: April 11, 2024
Size: $700 million
Structure: Senior unsecured notes
Term: Seven years
Coupon 6.857%


Issuer: Airbus
Date: 5 April 2017
Amount $750 million
Coupon: 3.95%
Maturity: 30 years


Issuer: Airbus
Date: 5 April 2017
Amount $750 million
Coupon: 3.15%
Maturity: 10 years


Borrower: United Airlines
Guarantor:  United Continental Holdings
Date: 29 March 2017
Size: $1,5 Billion
Structure: Term loan facility
Maturity: 1 April 2024
Term: five years
Lead Arrangers: Goldman Sachs, Industrial and Commercial Bank of China, Merril Lynch, Pierce, Fenner & Smith, Morgan Stanley and Wells Fargo.


Borrower: United Airlines
Guarantor:  United Continental Holdings
Date: 29 March 2017
Size: $2 Billion
Structure: Revolving credit facility
Maturity: 1 April 2022
Term: five years
Lead Arrangers: Goldman Sachs, Industrial and Commercial Bank of China, Merril Lynch, Pierce, Fenner & Smith, Morgan Stanley and Wells Fargo


Issuer: ICBCIL
Size: $5 billion
Initial rating: 7 October 2015
Rating extension: 28 March 2017
Rating body: Fitch Ratings
Structure Unsecured senior notes
Rating: A (Fitch Ratings)
Maturity: finalised upon settlement


Issuer: Finnair
Date: 22 March 2017
Maturity: 29 March 2022
Size: €200 million
Structure: Unsecured senior notes
Term: five years
Coupon 2.250%
Issue price: 99.925%
Lead managers: Danske Bank and Nordea Bank

Issuer type: Airline
Issuer Country: Finland


Borrower: Avcorp
Date: 17 March 2017
Maturity: 30 June 2020
Size: $58 million
Sole transaction arranger and lender: Unknown
Term: Three years
Structure: extended credit facility
Borrower type: Aerostructures company
Borrower country: Canada


Issuer: Delta Airlines
Date: 9 March 2017
Size: $1 billion
Type: Senior notes
Maturity date: 13 March 2020
Coupon: 2.857%
Issue price: 99.727
Joint Book-running managers: Barclays Capital, Goldman Sachs, J.P Morgan, Citigroup, Morgan Stanley, Wells Fargo, Natixis and Credit Agricole Securities.


Issuer: Delta Airlines
Date: 9 March 2017
Size: $1 billion
Type: Senior notes
Maturity date: 15 March 2022
Coupon: 3.625%
Issue price: 99.727
Joint Book-running managers: Barclays Capital, Goldman Sachs, J.P Morgan, Citigroup, Morgan Stanley, Wells Fargo, Natixis and Credit Agricole Securities.


Issuer: CALC
Amount: $200 milllion
Issue date: March 2017
Term: Seven year
Maturity: March 2024
Coupon: 5.5%


Issuer: CALC
Amount: $300 million
Issue date: March 2017
Term: five-year
Maturity: March 2022
Coupon: 4.7%


Borrower: Spirit Airlines
Amount: $228 million
Lenders: BNP Paribas and Wilmington Trust Company
Loan Type: Secured first priority
LIBOR: 3 months


Borrower: Dubai Aerospace Enterprise
Lessee: Vietnam Airlines
Date: 7 February 2017
Aircraft: A350-900
Structure: Aircraft loan
Sole arranger and lender: DVB Bank
Legal advisers: Clifford Chance, London (DVB), Allen & Overy, London (DAE)


Lessee: Etihad Airways
Date: 27 February 2017
Structure: JOLCO
Overall arranger, facility agent and security trustee: Crédit Agricole CIB
Debt arrangers: Crédit Agricole CIB, Australia and New Zealand Banking Group
Borrower type: Airline
Borrower country: UAE


Borrower: Aergo Capital
Date: January 2017
Assets: Four 737-900ERs
Lessee: Sriwijaya Air (2), Thai Lion Air (2)
Arranger, agent and underwriter: Korea Development Bank, PK AirFinance
Legal advisers: Smith, Gambrell & Russell (Aergo), Clifford Chance (Lenders)
Tax adviser: KPMG (Borrower).
Borrower type: Lessor
Borrower country: Ireland


Borrower: Elix Aviation Capital
Lessee: Hawaii Island Air
Date: January 2017
Aircraft: Two Bombardier Q400s
Arranger: DVB Bank
Legal advisers: Millbank (Elix), Clifford Chance (DVB)
Borrower type: Lessor
Borrower country: Ireland


Lessee: Qatar Airways
Date: December 2016
Aircraft: Airbus A380-800 (MSN193)
Structure: French tax lease
Arranger, equity provider, security trustee and facility agent: Crédit Agricole CIB
Debt arrangers: Crédit Agricole CIB, KfW IPEX-Bank, Credit Suisse
Legal advisers: Norton Rose Fulbright – Paris (banks), Dentons – London (Qatar Airways
Borrower type: Airline
Borrower country: Qatar


Borrower: Transportation Partners
Lessees: Malindo Air, Wings Air
Date: December 2016
Aircraft: Three new ATE72-600s
Sole Arranger, Agent and Underwriter: DVB Bank
Legal advisers: Clifford Chance (DVB), Transportation Advisers (Stephenson Harwood)
Borrower type: Lessor
Borrower country: Singapore

Alasdair Whyte
By Alasdair Whyte March 9, 2017 18:26

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