News / Events
December 2015

EMP finances first Emirates A380 operating lease using Traditional and Islamic Capital

Aviation Finance Company arranges 100% of financing Munich-based aviation finance arranger EMP structured assets GmbH (EMP), working in conjunction with senior and junior lenders in Germany and Dubai has arranged the purchase of an A380-800 operating lease to Emirates from Stellwagen Finance Company Limited, the holding company for Aviation Finance Company Limited (AFC). AFC initially arranged 100% of the financing for Stellwagen. Seraph Aviation Management facilitated the lease novation and sale. The Aircraft was delivered new from Airbus in December 2015. EMP arranged the structured financing for the Irish SPV lessor that purchased the aircraft. The hybrid operating lease transaction consists of a traditional senior loan provided by Deka. Dubai Islamic Bank (DIB) provided a pari passu senior tranche as well as a 40 % Islamic mezzanine tranche that uses a Murabaha commodities facility to maintain compliance with Islamic law....

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