8 December 2017
Maples Group Advises Aergen on US$759.8M ABS
Grand Cayman, Cayman Islands | Maples and Calder and MaplesFS assisted Dublin-based lessor AerGen in connection with its $579.8 million asset backed securitisation by Harbour Aircraft Investments Limited (“HAIL“, the “Borrower“), which was completed on 15 November 2017.
The deal is backed by 30 in-production narrow body aircraft. Proceeds from the HAIL 2017 issuance will effectively refinance Aergen’s debut asset backed securitisation, which was launched in July 2016 to refinance 19 narrow body aircraft and on which Maples and Calder and MaplesFS also assisted.
MaplesFS is the Managing Agent, Wells Fargo Bank, N.A. is the security trustee and DVB Bank SE, London Brach is the liquidity facility provider. Maples and Calder provided Cayman Islands legal advice and support to the Borrower through its Cayman Islands office and also provided Irish legal advice to the Managing Agent through its Dublin office.
In its role as Managing Agent, MaplesFS will provide cash management and calculation services, issue monthly reports to loan holders and investors and offer a complementary suite of company secretarial and corporate administration services to the Borrower group. In addition, MaplesFS is engaged to provide directorship services to the board of the Borrower entity and to each of its subsidiary entities.
The Maples and Calder team in the Cayman Islands was led by Partner Tina Meigh and Associates Shari McField, Barnabas Finnigan and Jonathan Brown. The Irish legal team was led by Partner Donna Ager with assistance from Associates Andrew Lawless and Alex Walsh. The MaplesFS team in Dublin included Julian Dunphy, Paul Griffin, Jarlath Canning and Mark Gordon.
Partner Tina Meigh, commented: “Our continued work on ABS transactions such as this highlights the seamless multi-disciplinary and cross-jurisdictional expertise the Maples group provides for our clients. We are delighted to have assisted Aergen once again and we look forward to continuing our work with them.”
About Maples and Calder
Maples and Calder is a leading international law firm advising financial, institutional, business and private clients around the world on the laws of the Cayman Islands, Ireland and the British Virgin Islands. Maples and Calder has offices in the British Virgin Islands, Cayman Islands, Dubai, Dublin, Hong Kong, London and Singapore.
With a reputation as an innovative, entrepreneurial firm, Maples and Calder is known worldwide as a market leader with highly qualified lawyers who are specialists in their respective practice areas.
Established in 1967, Maples and Calder celebrates 50 years of award winning excellence in 2017.
MaplesFS, through its divisions Maples Fiduciary, Maples Fund Services and Maples Private Client Services, is an independent global provider of specialised fiduciary, corporate formation, administration and trust and private client services. With offices in key locations around the world, its clients include global financial institutions, institutional investors, investment managers and international corporations.
MaplesFS leverages its affiliation with international law firm, Maples and Calder, to provide professional and timely advice that draws upon jurisdictional knowledge and experience. For more information, please visit www.maplesfs.com.
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