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THE AIRFINANCE GREATS
01 May 2006
The who's who of aircraft finance assembled in New York to recognize their outstanding efforts over the past year.
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DEALS OF THE YEAR
In June 2004 WestLB announced its intention to sell Boullioun. By early autumn the first round of bids had been received, including one from Aviation Capital Group. The lessor was about to embark on a 14-month project that would culminate in it acquiring and financing Boullioun, more than doubling its portfolio size.
Aviation Capital decided to bid and went looking for finance. It approached several banks for a bridge loan, with UBS happy to provide one, provided it could refinance it by arranging a securitization. By March 2005 Aviation Capital was granted exclusivity, and signed a formal purchase contract in mid-April. In mid-June, the two sides agreed to wrap up the purchase and worked around the clock to close the deal. The loan was meant to be a classic bridge loan, but as more banks came in, it got increasingly complicated.
"While complicating matters significantly, the bridge loan structure we...
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