14 October 2014
AWAS turns to Clifford Chance to complete its first private placement term loan
A New York-based team led by Banking & Finance partner Zarrar Sehgal has advised AWAS on its first private placement term loan. Proceeds from the US$350 million transaction, which closed October 7, were used to repay the existing debt on ten narrow-body aircraft and for general corporate purposes. This new facility was rated BBB by S&P and will have a 7-year term at a 4.87% coupon.
In addition to Zarrar, the Clifford Chance team advising AWAS included Banking & Finance associates Fiona Henderson, Patrick Reisinger and Olga Miller, and Tax associate Eric Naftel.
AWAS is one of the world’s leading aircraft leasing companies. Headquartered in Dublin and with offices in New York, Miami, and Singapore, it serves every major and developing commercial aviation market around the globe.