DOUGLAS BRENNAN REMAINS CHAIRMAN OF AFC AND STELLWAGEN GROUP CEO
Announcement Signals Business Expansion and Achievement of Company Milestones
The Board of Directors of Aviation Finance Company Limited today announced that Marc Bourgade will become the firm’s Chief Executive Officer, effective March 15, 2016, while Founder and CEO Douglas Brennan will continue to serve as Chairman and CEO of the Stellwagen Group of Companies, the parent of AFC. The company remains based in Dublin. Mr. Bourgade also will join the company’s Group Executive Committee. Eugene O’Reilly, a director of the AFC Board, said, “Over the past three years, under the expert leadership of Douglas Brennan, we have built operations in Ireland and across the globe in the face of a highly competitive market. AFC has invested and arranged over $5 billion of debt for our industry by developing innovative products that have helped reshape how we organize and deploy capital in the aviation market.” Mr. O’Reilly continued, “Doug and...
Second deal of its kind closed within two months
Munich-based aviation finance arranger EMP structured assets GmbH (EMP), working in conjunction with Aviation Finance Company Limited (AFC), Dubai Islamic Bank (DIB) and a German institutional investor, closed a 10 year sale lease-back transaction with Emirates for a 2013 vintage A380-800. AFC arranged the mandate with Emirates and the investment of DIB. The financing for the Irish SPV lessor consists of a full-payout Islamic facility in an Ijarah Lease structure provided by DIB. The equity was issued through profit participation notes from the EMP´s Irish Head Lessor to EMP itself and a German Institutional investor. Seraph Aviation Management provide lease management services to the lessor. “We are pleased to have completed our second A380 deal with AFC and Emirates within only two months. The high leverage allowed us to minimize the residual value risks associated with the A380,” said Phillip...