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Maples Group Advises on Griffin US$1 Billion Senior Unsecured Notes Offering

25 Jul 2023

Maples and Calder, the Maples Group's law firm, is pleased to have advised Griffin Global Asset Management ("Griffin"), a commercial aircraft leasing and alternative management business, on the successful closing by GGAM Finance Ltd. of an aggregate principal amount of US$1 billion senior unsecured notes. This transaction is Griffin's first unsecured bond issuance.

The offering comprises US$400 million of 7.75% senior unsecured notes due 2026 and US$600 million of 8.00% senior unsecured notes due 2028 (the "Notes").  The Notes are guaranteed by Griffin Global Asset Management Holdings, Ltd. and certain of its subsidiaries.  Proceeds from the issuance of the Notes will be used to partially repay an existing warehouse facility and for general corporate purposes. 

The firm provided Cayman Islands legal counsel to Griffin and assisted with the Cayman Islands Stock Exchange listing. The firm also provided Irish legal counsel to Bain Capital Credit, LP, which manages or advises funds that provided substantially all of the equity capital to Griffin Global Asset Management Holdings, Ltd.

The team comprised Finance Partners Jonathon Meloy and Anthony Philp, Funds & Investment Management Partner Fearghal De Feu and Associates Sorcha O'Keefe and Nuala Clarke.

"We are fortunate to have industry-leading funds and aviation legal specialists based across our global offices which enables us to offer seamless and time-zone sensitive support to clients within the aviation sector," remarked Jonathon Meloy. "It has been a pleasure to again assist our long-standing client Griffin on this important transaction. We look forward to supporting Griffin further on their continued growth as a leader in the aircraft leasing and financing sector."

Hughes Hubbard advised Griffin, while Milbank advised the initial purchasers and Akin Gump advised Bain.

The Maples Group was recently recognised for its role on nine award-winning Deals of the Year at the Airfinance Journal Awards 2022.


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