Milbank Recognized by Airfinance Journal for Twelve Deals of the Year

In an unprecedented showing of the recent success of Milbank's Transportation and Space Group, Airfinance Journal has recognized 12 separate transactions in which the firm played a pivotal advisory role as Deals of the Year for 2015.

The firm acted as counsel in the following key transactions in 2015:

1. Overall Deal of the Year: AWAS’s Sale of a Portfolio of 90 Aircraft to Macquarie Group Limited

Milbank represented Dublin-based aircraft lessor, AWAS and its owners Terra Firma and Canada Pension Plan Investment Board on an agreement to sell a portfolio of 90 aircraft to Macquarie Group Limited for a total consideration of approximately $4 billion.

2. Editor’s Deal of the Year: Emirates Amedeo £1.1 Billion A380 Financing

Milbank represented the Directors of Amedeo Air Four Plus Limited in the lease of four Airbus A380 aircraft to Emirates Airlines.

3. Latin America Deal of the Year: LATAM Airline’s $1.02 Billion EETC Offering

Milbank represented the initial purchasers in the $1.02 billion offering of enhanced equipment trust certificates (EETC) backed by 17 aircraft by LATAM Airlines Group S.A. This is the first EETC in South America.

4. Capital Markets Deal of the Year: Shenton Aircraft Investment I Ltd. (SAIL) $807.9 Million Debut ABS

Milbank represented the initial purchasers and the equity investor in the issuance of more than $807.9 million of notes by Shenton Aircraft Investment I Ltd. (SAIL). The transaction, backed by 24 aircraft to be acquired from BOC Aviation Pte. Ltd (BOC Aviation), is the first aircraft-backed securitization in Asia, and the first for BOC Aviation.

5. Commercial Loan Deal of the Year: British Airways $1.075 Billion Revolving Credit Facility

Milbank represented the syndicate of 28 lenders in the $1.075 billion replacement for the British Airways 2012 revolving credit facility.

6. Regional Jet/Turboprop Deal of the Year: Mesa Airlines $245 Million First-Ever EETC

Milbank represented the initial purchasers in the $245 million offering of enhanced equipment trust certificates (EETC) backed by 10 new Embraer 175 aircraft. This is the first EETC offering issued by a regional airline.

7. Europe Deal of the Year: Deucalion’s $667 Million Debut ABS

Milbank represented the equity investor in connection with the Deucalion’s debut $667 million securitization backed by 20 aircraft on lease to 13 airlines in 12 countries.

8. North America Deal of the Year: ECAF I Ltd.’s $1.21 Billion Commercial Aircraft Operating Lease Backed ABS Notes

Milbank represented ECAF I in connection with its acquisition of a portfolio of aircraft related to its $1.21 billion three tranche offering of ABS notes.

9. Tax Lease Deal of the Year: Turkish Airlines Yen-Denominated U.S. Ex-Im Backed French Tax Lease

Milbank represented BNP Paribas as debt arranger and guaranteed lender in Turkish Airline’s first yen-denominated U.S. Ex-Im backed French tax lease to finance the delivery of a new 777-300ER.

10. Engine Deal of the Year: LATAM Airline’s $250 Million Engine Financing

Milbank represented the sole arranger and administrative agent in connection with a $250 million financing for LATAM secured by 33 engines.

11. PDP Deal of the Year: Asiana Airlines

Milbank represented South Korean carrier Asiana Airlines on a combined pre-delivery payment (PDP) and a sale and leaseback of four A350XWB Airbus Aircraft with SMBC.

12. M&A Deal of the Year: Investment by EQT in Nordic Aviation Capital

Milbank represented the single largest secured lender to NAC in connection with EQT’s equity investment in NAC.

About Milbank

Milbank, Tweed, Hadley & McCloy LLP is a leading international law firm that provides innovative legal services to clients around the world. Founded in New York 150 years ago, Milbank has offices in Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, São Paulo, Seoul, Singapore, Tokyo and Washington, DC.

Milbank’s lawyers collaborate across practices and offices to help the world’s leading commercial, financial and industrial enterprises, as well as institutions, individuals and governments, achieve their strategic objectives.