Maples Group Supports US$400 Million Airport Securitisation for Government of Jamaica
The Maples Group is pleased to announce its role as Cayman Islands legal counsel and provider of fiduciary and listing services in connection with a US$400 million securitisation transaction by Montego Bay Airport Revenue Finance Limited (MoAir) and the Government of Jamaica (“GOJ”).
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Led by GOJ, the transaction involved the issuance of notes through a Cayman Islands special purpose vehicle. Among other government initiatives, the proceeds from the transaction will support the financing of infrastructure projects throughout Jamaica.
The notes have been listed on the Luxembourg Stock Exchange (LSE) for trading on the Euro MTF Market.
The Maples Group’s Cayman Islands legal team was led by Partners, Wanda Ebanks and Robin Harding with assistance from Associate, Sorcha O’Keefe. The Issuer team was managed by the Group’s fiduciary team, including Wendy Ebanks, Mora Goddard, Ciaran Cotter and Brent Whittaker.
This transaction marks the second aviation securitisation for Jamaica on which the Maples Group has provided legal and fiduciary support.
Robin Harding, Partner, commented, “We are proud to support the Government of Jamaica on another successful infrastructure securitisation. This transaction not only showcases the strength of the Cayman Islands as a leading jurisdiction for structured finance but also highlights our team’s continued commitment to support impactful infrastructure development across the region”.
