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 Prior, EMP Partner. He continued, “We look forward to working with AFC and Seraph, both highly flexible, efficient and professional counterparties, to develop more aviation investment opportunities for our investors.”
“Working together with the dedicated professionals at EMP and Emirates, a stellar underlying operator and credit provider, we were able to put together an asset backed investment structure that offers our debt and equity investors the right risk-return balance,” said Douglas Brennan, Chief Executive Officer of Aviation Finance Company in Dublin. “I look forward to more opportunities to partner with EMP as we plan to increase our activities in Germany, where institutional investors focus on long-term strategies with thoughtful and strategic risk-adjusted structures. With our global reach we will help EMP´s deliver more well-structured bespoke investments.”
Munich-based EMP arranges and manages aviation finance transactions for Institutional Investors. Focusing on prime carriers and long term leases, EMP refinances its fixed income style transactions through Private Placements mainly to German institutional investors by providing tailor-made investment solutions, which range from bond or note issuances via EMP´s Luxembourg platform to loan syndications via EMP´s German bank partners. See also www.emp-assets.com
Aviation Finance Company Limited provides alternative sources of capital and arranges financing solutions through innovative financial engineering to meet the needs of the global transportation industry. AFC, headquartered in Dublin, Ireland, along with its sister company, AFC LLC in New York is a wholly-owned subsidiary of Stellwagen Finance Company Limited.
The AFC group works collaboratively with investors, airlines and aircraft manufacturers to deliver outstanding finance solutions and service, a reliable investment partner and financial advisor to airlines and aviation operators seeking debt and equity financing. See also www.avfinco.com
Seraph Aviation Management (SAM), based in Dublin Ireland, is an independent global aircraft manager with over 22 years’ experience. SAM currently manages 31 aircraft and provides aircraft ownership strategies that strive to maximize risk-adjusted returns for our clients. SAM does not own aircraft but serves the financial investment and leasing community by providing independent lease management services. The ownership of SAM is shared by Stellwagen Finance Company, parent of AFC and the SAM management team. See also www.seraph.aero
Philipp Prior, Managing Partner, EMP Structured Assets GmbH, firstname.lastname@example.org
Karen Payes, Investor Relations, Aviation Finance Company Limited, email@example.com
Patrick Kenny, Investor Relations, Seraph Aviation Management Limited, firstname.lastname@example.org