Maples and Calder and Maples Fiduciary acted for AerGen in connection with a US$324.7 million asset backed loan securitization of a portfolio of 19 narrow body aircraft by Harbour Aircraft Investments Ltd. It was the debut ABS issuance by AerGen, a relative newcomer in the aircraft leasing market. All three tranches of the issuance were oversubscribed.
Aergen Aviation Finance Ltd. will act as servicer to the portfolio and Maples Fiduciary Services (Ireland) Ltd. will act as managing agent to the borrower.
Maples Fiduciary will provide cash management and calculation services, issue monthly statements to loan holders and investors and offer its full suite of company secretarial and accounting services to the Borrower. In addition, Maples Fiduciary is engaged to provide directorship services to the board of the borrower entity and to each of its subsidiary entities.
Maples and Calder provided Cayman Islands legal advice and support to the borrower through its Cayman Islands office, and also provided Irish legal advice to the managing agent through its Dublin office.
DVB Bank SE provided the liquidity facility to the Borrower, while Deutsche Bank Securities Inc. and Goldman Sachs Lending Partners LLC acted as joint lead arrangers for the offering.