Vedder Price Advises Castlelake in $713 Million Aircraft Securitization
Vedder Price advised Castlelake, L.P., as sponsor and servicer, and Castlelake Aircraft Securitization Trust 2015-1 (CLAS 2015-1), as issuer, in the issuance of more than $713 million in Class A, B and C notes. The transaction is backed by a fleet of 54 aircraft and 6 aircraft engines, which CLAS 2015-1 will acquire from funds managed by Castlelake. The aircraft are currently on lease to 23 lessees located in 18 countries.
To finance the acquisition of the aircraft from the Castlelake managed funds, CLAS 2015-1 issued $529 million of 4.7 percent Class A notes, $105.7 million of 5.75 percent Class B notes and $78.5 million of 9 percent Class C notes.
The Vedder Price team included Global Transportation Finance Shareholders Adam Beringer, Geoffrey Kass and Theresa Peyton and Associates Kamran Chaudri, Daniel Cunix, Mark Ditto, Rebecca Rigney and Joel Thielen; Securities & Capital Markets Shareholder Marc Klyman and Associate Joshua Bergmann; Corporate Solicitor Jonathan Edgelow, Tax Shareholder Tim O’Donnell and Associate Grant Kaiser.
"Vedder Price is delighted to have partnered with Castlelake in its second ABS offering in two years," said Geoffrey Kass. "This offering, like Castlelake's 2014 ABS, is representative of its vintage fleet and incorporated many additional innovative features that will allow Castlelake to apply its best-in-class asset management capabilities to maximize value for both bondholders and Castlelake investors."
Vedder Thinking | News Vedder Price Advises Castlelake in $713 Million Aircraft Securitization
Press Release
January 2016
Vedder Price advised Castlelake, L.P., as sponsor and servicer, and Castlelake Aircraft Securitization Trust 2015-1 (CLAS 2015-1), as issuer, in the issuance of more than $713 million in Class A, B and C notes. The transaction is backed by a fleet of 54 aircraft and 6 aircraft engines, which CLAS 2015-1 will acquire from funds managed by Castlelake. The aircraft are currently on lease to 23 lessees located in 18 countries.
To finance the acquisition of the aircraft from the Castlelake managed funds, CLAS 2015-1 issued $529 million of 4.7 percent Class A notes, $105.7 million of 5.75 percent Class B notes and $78.5 million of 9 percent Class C notes.
The Vedder Price team included Global Transportation Finance Shareholders Adam Beringer, Geoffrey Kass and Theresa Peyton and Associates Kamran Chaudri, Daniel Cunix, Mark Ditto, Rebecca Rigney and Joel Thielen; Securities & Capital Markets Shareholder Marc Klyman and Associate Joshua Bergmann; Corporate Solicitor Jonathan Edgelow, Tax Shareholder Tim O’Donnell and Associate Grant Kaiser.
"Vedder Price is delighted to have partnered with Castlelake in its second ABS offering in two years," said Geoffrey Kass. "This offering, like Castlelake's 2014 ABS, is representative of its vintage fleet and incorporated many additional innovative features that will allow Castlelake to apply its best-in-class asset management capabilities to maximize value for both bondholders and Castlelake investors."
