Mourant, a law firm-led professional services business, has acted as Cayman Islands counsel for AviLease on a $2.1 billion bridge financing for its $3.6 billion acquisition of Standard Chartered Group’s aviation finance leasing business, Dublin-based Pembroke Aircraft Leasing.
The acquisition includes AviLease’s Isle of Man, Ireland and China subsidiaries. As part of the transaction, AviLease will also acquire a portfolio of 100 aircraft and become servicer for a further 22 aircraft.
This transaction will provide AviLease with the opportunity to leverage Standard Chartered Group’s long-established team in addition to its large-scale operational capabilities. It also forms part of the organisation’s ambitious growth plans to become a top-10 global lessor by 2030.
Saudi Aircraft lessor AviLease was founded in 2022 and is owned by the Kingdom’s Public Investment Fund.
Partner Danielle Roman (pictured) from the firm’s Banking and Finance practice in Hong Kong led the deal for Mourant. Danielle is recommended in Who’s Who Legal 2023 as a Global Leader in in the area of Transport – Aviation Finance. Danielle worked with banking and finance specialists Alicia Phang (Senior Associate) and Naomi Crawford (Associate) on the deal.
The team also worked in close collaboration with lead onshore counsel, Allen & Overy and Arthur Cox, on the transaction.
Danielle commented: “We are thrilled to have represented AviLease in this landmark acquisition. The successful completion underscores our firm’s particular expertise in the complexities of banking and finance law within the aviation space. AviLease is making a significant impact and has ambitious plans for growth which we have no doubt it will achieve, and we look forward to collaborating again in the future.
“Thanks also to the teams at Arthur Cox and Allen & Overy for their hard work and expertise as onshore counsel on this transaction.”