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How Bear Stearns, Northern Rock and Allco affects aircraft finance
01 April 2008
It is no comfort to the bank's employees and shareholders but few airlines will mourn the loss of Bear Stearns. Out of all the major US investment banks it was the least active in aircraft finance. Apart from lending to Aircastle (largely because it was a relationship bank of Fortress Investment Group) and a $1.3 billion repacking of US Airways EETC paper in 2003, it is hard to remember any significant debt deals that the bank participated in.
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It is no comfort to the bank's employees and shareholders but few airlines will mourn the loss of Bear Stearns. Out of all the major US investment banks it was the least active in aircraft finance. Apart from lending to Aircastle (largely because it was a relationship bank of Fortress Investment Group) and a $1.3 billion repacking of US Airways EETC paper in 2003, it is hard to remember any significant debt deals that the bank participated in.
Even so, the way that the bank was brought down by unsubstantiated rumours is a...
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