Milbank LLP advised Sumisho Air Lease in connection with its offering of $4 billion aggregate principal amount of four tranches of senior notes partially used to finance the acquisition of Air Lease Corporation (“ALC”) (NYSE: AL). This transformational transaction improves the financial position of ALC’s business with long-term support and aviation expertise from co-investors Sumitomo Corporation, SMBC Aviation Capital, Apollo and Brookfield, who agreed to acquire Air Lease for a total valuation of approximately $7.4 billion, or approximately $28.2 billion including debt obligations to be assumed or refinanced net of cash.
Sumisho Air Lease (renamed as such following the acquisition of ALC) is one of the largest aircraft leasing companies in the world.
The Milbank deal team was led by Corporate Finance and Securities partner Brett Nadritch with associates Nicole Haddad, Devarshi Mukhopadhyay and Daniel Perez-Kowalski. The team also included Tax partner Andrew Walker and associate Blake Rocks.
