Deals and Client Wins Maples Group Acts on Aircraft Securitisation for Sapphire Aviation Finance

02 May 2018

Maples and Calder advised Sapphire Aviation Finance I Limited, as issuer, and Avolon Aerospace Leasing Limited, as seller, as to Cayman Islands and Irish law in connection with a US$768.4 million offering of aircraft asset backed fixed rate secured notes involving a portfolio of 41 aircraft on lease to 30 lessees located in 19 countries.  The transaction was completed on 23 March 2018.

The offering consisted of three tranches of notes, all of which are listed on the Cayman Islands Stock Exchange and in respect of which Maples and Calder acted as Cayman Islands listing agent, plus E Notes and S Certificates.  Avolon will act as servicer to the portfolio.  MaplesFS Limited provided share trustee and related administration services.  

The Maples and Calder legal team in the Cayman Islands was led by partner Jonathon Meloy along with associates Anthony Philp and Barnabas Finnigan, while the Irish legal team was led by partner Donna Ager supported by of counsel Mary O'Neill and associates Laura Sharkey and Eoin O'Leary.

Global Head of Maples and Calder's Finance group, Mark Matthews, commented, "Having advised our longstanding client Avolon on its inaugural aircraft securitisation in 2013 it was a pleasure to advise them in their capacity as servicer for this deal, providing seamless trustee and administration support and Cayman Islands and Irish legal advice."

CONTACTS

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Mark Matthews

Partner

+1 345 814 5314

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Jonathon Meloy

Partner

+1 345 814 5412

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Donna Ager

Partner

+44 20 7466 1712

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Mary O'Neill

Partner

+353 1 619 2105

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Anthony Philp

Partner

+1 345 814 5547

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Eoin O'Leary

Associate

+353 1 619 2744

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