Vedder Thinking | News Vedder Price Represents Client in Sale and Leaseback of Two More Aircraft with Qatar Airways
August 2, 2018
Vedder Price is pleased to announce that its Global Transportation Finance team, led by Partner Neil Poland and Solicitor Joshua Alexander, represented Magi Aviation Capital (Magi) in the sale and leaseback of two B777-300ER aircraft with Qatar Airways. Magi will act as servicer and lease administrator for the aircraft, bringing to seven the total number of aircraft managed in its all-widebody fleet with an asset value in excess of $1.2 billion. Vedder Price counseled Magi on the sale of the seven aircraft.
Korean institutional investors arranged by KTB Investment & Securities provided the equity and mezzanine funding. Senior debt was arranged by Australia and New Zealand Banking Group Ltd. (ANZ) and provided by ANZ, IBJ Leasing and NEC Capital. ANZ also acts as Facility and Security Agent.
"Vedder Price’s London office is pleased to have worked with Magi again on these two recent deals,” said Poland. “We are happy to support their strong relationship with Qatar Airways, as well as their ongoing growth in Korea.”