Maples Group Advises volofin Capital Management on US$446 Million Aviation Loan ABS
A cross-border team of lawyers and fiduciary professionals from the Maples Group recently advised volofin Capital Management Ltd. (“volofin”) on the closing of VFIN 2026-1, with volofin Finance (Ireland) II DAC and volofin Finance US II LLC as Co-Issuers (“Issuers”). This multimillion aviation loan asset-backed securitisation marks the alternative aviation lender’s second aircraft loan ABS transaction.
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VFIN 2026-1 issued approximately US$446 million of notes, including about US$25 million of residual interest notes retained by volofin. The notes are secured by a portfolio of 66 senior-secured aviation loans backed by 174 assets across 43 credit counterparties and 23 jurisdictions. Proceeds were used to acquire lender interests in a portfolio of 23 aviation loan facilities originated by the company.
A multi-jurisdictional team of lawyers based in the Group’s Dublin and Cayman Islands offices acted as Irish and Cayman Islands counsel to volofin and the Issuers, providing specialised legal and tax advice. Additionally, the Group’s Irish Fiduciary Services team provided corporate service formation and administration services to volofin. The team also acts as the ongoing loan and issuer administrator in addition to providing experienced directors to the board.
The legal team was co-led by Andrew Quinn, Global Head of Tax, Jonathon Meloy, Cayman Islands Head of Finance, Anthony Philp, Cayman Islands Co-head of Asset Finance, and Joe O’Neill, Dublin Finance Partner, with assistance from Ted O’Byrne, Tax Consultant, Sorcha O’Keefe, Finance Associate, and Rory Thomson, Finance Associate. The Irish Fiduciary Services team was co-led by Julian Dunphy, Head of Structured Finance, and Jarlath Canning, Senior Vice President, with support from Jennifer Cortez-Abaja, Senior Vice President, and Isabel Batoon, Vice President.
The Maples Group is uniquely placed to support fund investment and ABS products in aviation, having advised clients who are historically active in this space as well as newer sponsors and servicers. The Group has the requisite capabilities and expertise, providing both Irish legal and tax and Cayman Islands support, as well as fiduciary, loan administration and managing agent services to our international clients.
Maples Group also assisted volofin with its inaugural US$538 million Aviation Loan ABS (VFIN 2024-1) in December 2024. In both transactions, the Maples Group worked with Arnold & Porter Kaye Scholer LLP who served as US counsel to volofin and the Issuers.
