Clifford Chance Assisted the Lead Arranger Banks Acquire Standard Chartered's Aircraft Leasing Business
Clifford Chance has advised the Lead Arranger Banks led by Citibank, BNP Paribas, HSBC Bank Middle East, and MUFG Bank on a $2.1 billion acquisition financing for AviLease.
AviLease acquired Standard Chartered's aircraft leasing business for a total consideration of $3.6 billion, as part of Standard Chartered's exit from the aviation leasing and financing sector.
Upon completion of the acquisition, AviLease, a Riyadh-based company backed by Saudi Arabia's PIF sovereign wealth fund, will become the owner and operator of a fleet of more than 120 aircraft.
The Clifford Chance team, led by partner Graham Brewer and supported by senior associates Bola Coker, Paul Langley, and associate Tanvi Pahwa, worked closely with the firm's KSA (Kingdom of Saudi Arabia) office, local arm AS&H Clifford Chance, and New York office.
"We are delighted to have advised the lead arranger banks on this first-of-a-kind complex cross-border transaction which promises to be transformational for AviLease as they continue to solidify their position as a leading global aircraft lessor," Partner Graham Brewer stated.