We acted as transaction counsel in the acquisition of six Airbus A220 aircraft by a joint venture led by Reverence Capital Partners (hereinafter – “Reverence”) and their simultaneous leasing to airBaltic.
Our involvement
Our assistance included local law advice in relation to the sale of the aircraft and matters related to the leaseback arrangement, financing (non-recourse loans that are cross-collateralised), the establishment of local law-governed collaterals], and assistance in all notifications to the Civil Aviation Agency of the Republic of Latvia related to aircraft financing and collateral.
About the case
The lessor was German Operating Aircraft Leasing GmbH & Co. KG (GOAL), the leading German aircraft lessor, which arranged the transaction together with its joint venture partner, Reverence, a leading financial-services-focused investment firm with three complementary and synergistic strategies: private equity, structured credit and real estate.
The transaction was financed by the lenders, with Société Générale as the arranger and facility agent, Itasca MGA Ltd. as the insurance agent and Wilmington Trust (London) Ltd. as the security trustee.
Our team
Our team consisted of partner Rūdolfs Eņģelis, counsel Inese Heinacka, and assistant lawyer Gabriela Mora Petroviča.
