Vedder Price’s Global Transportation Finance team is pleased to announce that it has received Airline Economics 2023 Capital Markets Deal of the Year recognition in connection with the recent closing of MAST 2022-1’s commercial aircraft portfolio financing transaction.

The recognition was given as part of the Global Aviation 100 Deals of the Year awards that were recently announced in Dublin, Ireland.

“We are thrilled to receive this recognition from Airline Economics, and it’s an honor to be included among so many of our other esteemed colleagues this year,” said Geoff Kass, Chair, Vedder Price Global Transportation Finance team.

On this transaction, Vedder Price acted as New York legal counsel to the investors in the private placement of MAST 2022-1’s US$303.7 million structured aircraft portfolio notes.  The notes were secured by a portfolio of 15 commercial jet aircraft with 10 different lessees based in nine countries. Funds advised by Marathon Asset Management own the aircraft in the portfolio, while Airborne Capital Limited acts as servicer. Mizuho Securities acted as structuring agent and placement agent and Mizuho Bank, Ltd. provided the liquidity facility. 

“Vedder Price was very happy to provide legal advice on this transaction and delighted to assist the parties in achieving a successful closing, especially in light of the challenging dynamics we faced in the aviation capital markets during 2022,” said Shareholder Clay Thomas.

In addition to Clay Thomas, the Vedder Price legal team on the transaction was also led by shareholder Kevin MacLeod, with assistance from Shareholder Matthew Larvick and from Associates Jillian Greenwald and Samuel Esclavon. Geoff Kass acted as legal advisor to the liquidity facility provider.