Aviation Finance Company (AFC) announced today that it acted as Lead Arranger and Sole Book Runner to close a Private Placement Term Loan for AWAS. This is the first time AWAS was involved in this type of transaction signaling the growing demand for alternative sources of capital creatively structured to meet the evolving needs of the global transportation industry. CACIB, Goldman Sachs and Wells Fargo were Co-Leads and BNP Paribas served as Manager. The proceeds from the transaction will repay the existing debt on 10 young narrow-body aircraft as well as for general corporate purposes. This new facility rated BBB by S&P and will have a seven-year term at a 4.87% coupon.
Douglas Brennan, CEO of AFC, stated, “Thanks to the effective collaboration between AWAS, AFC and this strong group of investors, we applied some fresh thinking to determine innovative investment structures that would yield favorable results.” He continued, “It is extremely gratifying to play a meaningful role for AWAS in their first deal of this nature.”
Simon Glass, AWAS Chief Financial Officer shared, “Working with AFC, we were able to approach major US investors for the first time to directly structure a transaction that met our specific requirements while meeting investors’ defined investment criteria.”
Clifford Chance acted as legal counsel on behalf of AWAS and Vedder Price on behalf of AFC and the Co-Lead Arrangers.
Aviation Finance Company Limited (AFC) was established in 2013 to provide alternative sources of capital and arrange financing solutions that are creatively and thoughtfully structured to meet the needs of the global transportation industry. AFC is headquartered in Dublin, Ireland and along with its sister company in New York, works collaboratively with investors, airlines and aircraft manufacturers to deliver outstanding service. Aviation Finance Company Limited (AFC) is a reliable investment partner and financial advisor to airlines and aviation operators seeking debt and equity financing.
AWAS is one of the world’s leading aircraft leasing companies. Our team of industry professionals serves every major and developing commercial aviation market around the globe from our Dublin headquarters and offices in New York, Miami, and Singapore.
AWAS owns a portfolio of more than 300 modern aircraft with 20+ aircraft on order from Airbus and Boeing including a number of next generation aircraft. The aircraft portfolio is on lease to over 110 airline customers in 50 countries. The AWAS fleet features a full range of the most popular aircraft types which includes both narrow-bodied and wide-body aircraft.
Douglas L. Brennan
Chief Executive Officer
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