As reported by Ishka, Vinson & Elkins advised Deutsche Bank AG, New York Branch as lead arranger, sole structuring agent and the lenders in a partial recourse delayed draw term loan to finance around 35 midlife Airbus and Boeing narrow bodies.
Further, as Ishka reported, “the loan began at $269 million, before being upsized quickly to $337 million, with an accordion feature bringing the facility size up to $750 million. The deal secured a wide range of participants, and was the largest widely syndicated non-rated midlife/end of life deal post COVID. This deal included a first-of-its-kind structure with term loan-style financing terms for an identified pool of stub-leased aircraft, as well as warehouse-style loan terms for a blind pool of aircraft to be financed via the built-in accordion.”
The Vinson & Elkins team was led by Partner Niels Jensen with assistance from Senior Associate Demi Hueth and Associates Lary Yau, Rob Tusch and Lily Marrs. Additional key team members included Counsel Elizabeth McIntyre; and Partner Ron Nardini and Associates Mel Byun and Tyler Underwood.
