February 5, 2021

Milbank Advises Debt Financing Sources on $4.7B Offer for Signature Aviation

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Milbank LLP represented RBC Capital Markets as the arranger under an interim facility agreement to support the recommended cash offer by Brown Bidco Limited (a newly formed company indirectly owned by funds advised by Blackstone, Global Infrastructure Partners and Cascade Investment (the “Consortium”)) to purchase Signature Aviation (“Signature”) (LON:SIG).

Signature is the world’s largest fixed base operation network for Business & General Aviation customers and the leading provider of global aviation support services, including ground handling, passenger and pilot amenities, technical support, hangar rental and fueling at 370 locations around the world. Signature also operates Signature Flight Support, the world’s largest FBO chain.

The Milbank team was led by New York-based Global Leveraged Finance partners Marcus Dougherty and Benjamin Sayagh and Capital Markets partner Rod Miller and London-based European Leveraged Finance/Capital Markets partners Miko Bradford and Suhrud Mehta and Global Corporate partner Mark Stamp, with special counsel Merih Altay and associates James Mackay, Henry Madell, Tom Neilson, George Zhang, Jenny Saufley, James Fine and Kelsey Craig. Los Angeles-based Global Project, Energy and Infrastructure Finance partner Allan Marks also provided support on the transaction.