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Maples Advises on Debut Aircraft Bond Transaction

19 Dec 2017

Maples and Calder advised WAVE 2017-1 Limited (the "Cayman Issuer") and WAVE 2017-1 LLC (the "US Issuer"), on the Cayman Islands legal aspects of the US$578.4 million portfolio finance transaction relating to approximately 19 aircraft on lease to a variety of operators located across 14 countries.

The Cayman Issuer and the US Issuer co-issued three tranches of notes which are listed on the Cayman Islands Stock Exchange (the "CSX"), and in respect of which Maples and Calder also acted as Cayman Islands listing agent.  This transaction, WAVE 2017-1, is the debut bond transaction for Wings Capital Partners LLC, a commercial aircraft lessor focused primarily in single aisle, in-production commercial jet aircraft. 

The Maples and Calder team was led by Partner, Jonathon Meloy, and Associate, Barnabas Finnigan. Associate, Jonathan Brown, also provided assistance on the CSX listing.

Jonathon Meloy commented, "We are pleased to have advised Wings on its inaugural bond issuance.  Maples and Calder's continued involvement in similar transactions highlights the unrivalled experience and strength of our team as acting Issuer counsel ".

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Advising on the laws of the BVI, the Cayman Islands, Ireland, Jersey and Luxembourg, our global Finance team provides expert legal advice on even the most complex financial transactions under intense time pressure. Clients repeatedly return to our qualified finance lawyers to handle a variety of complex matters relating to acquisition and leveraged financing, asset finance, banking, debt capital markets, derivatives, fund finance, insurance linked products, Islamic finance, repackaging and structured finance.