Deals and Client Wins Maples Group Advises United Airlines on US$6.8 Billion Financing Plan
08 Jul 2020
Maples and Calder, the Maples Group's law firm, is pleased to have advised United MileagePlus, United Airlines' loyalty programme, on the Cayman Islands legal aspects of both its recent US$3.8 billion bond offering and its concurrent US$3 billion term loan which closed on 2 July 2020.
Asset finance Partner, Sherice Arman led a multi-disciplinary team of lawyers from the firm's corporate, finance, IP, data protection and trusts practices on this transaction. Cayman Islands based-Partners Abraham Thoppil, Tim Dawson and Finn O'Hegarty, and Of Counsel Shari Howell, Nick Herrod and Maxine Bodden, acted as Cayman Islands legal advisers.
The sizeable bond offering and loan facility will be used to refinance United Airline's existing bridge facility and provide working capital and liquidity for the United Airlines group.
Maples and Calder worked closely alongside Kirkland & Ellis who advised United MileagePlus on US legal matters, while Mayer Brown acted as US counsel to the lead arranger, Goldman Sachs.
"We were delighted to advise on this unique structure that has enabled United Airlines to borrow against its loyalty card programme Mileage Plus and boost the airline's finances. This is a challenging time for the aviation industry and this cash injection will support and benefit the airline in the long term," commented Sherice Arman.
"The Maples Group's global aviation team has distinguished capabilities and expertise in the aviation industry, advising clients on multi-jurisdictional transactions. In this matter, our aircraft finance team leveraged our deep bench of banking and finance, corporate, intellectual property, data protection and trusts specialists to assemble a market-leading team with the expertise to successfully close this transaction." said Scott Macdonald, partner and the firm's Global Head of Finance.
Maples and Calder, the Maples Group's law firm was delighted to once again act as lead Jersey counsel for Apache Capital Partners on a recent transaction.Read more
21 Oct 2020
The Maples Group is pleased to announce the appointment of Mark Crichton to its Jersey office.Read more
15 Oct 2020
Maples and Calder, the Maples Group's law firm, was pleased to advise a buyer consortium, comprising Mr. Jinbo Yao (founder of 58.com Inc.), General Atlantic Service Company, L.P., Warburg Pincus Asia LLC and Ocean Link Asia Limited, on the take-private of 58.com Inc., a Cayman Islands company previously listed on the New York Stock Exchange (NYSE).Read more
14 Oct 2020
Maples and Calder, the Maples Group's law firm, is pleased to announce that it has been recognised once again at the IFLR Middle East Awards. The awards, which took place virtually this year, acknowledged the most influential corporate finance deals over the past 12 months.Read more
14 Oct 2020
Maples and Calder, the Maples Group's law firm, named the "Best Offshore Law Firm" at the Private Equity Wire US Awards 2020.Read more
12 Oct 2020
Maples and Calder, the Maples Group's law firm, was honoured to have been recognised at the annual Asia Legal Awards and the long-running ALB China Law Awards last month, winning a combined six awards and sweeping the offshore category at both events. This is the firm's third and seventh consecutive year winning "Offshore Law Firm of the Year" at the Asia Legal Awards and ALB China Law Awards respectively.Read more
09 Oct 2020