8 December 2015
Clifford Chance advises Global Jet Capital on $2.3B secured credit facility
NEW YORK, December 8, 2015 — Clifford Chance has advised Global Jet Capital on a $2,310,000,000 secured credit facility used to finance the acquisition of General Electric Capital Corporation's corporate jet business. The facility is expected to finance the acquisition of lease and loan assets relating to more than 300 corporate jet aircraft – one of the largest deals ever of its type. The first funding under the facility occurred December 4th and involved the acquisition of interests in more than 200 aircraft.
Global Jet Capital was formed in 2014 by three private equity firms – The Carlyle Group; GSO, a unit of the Blackstone Group; and Aero Equity Partners. Clifford Chance previously advised The Carlyle Group in the initial structuring and formation of Global Jet Capital.
The New York-based Clifford Chance team advising on this transaction was led by partner Emily DiStefano and included partners Philip Wagman, Cliff Cone and Lee Askenazi, and associates Richard Williams, Patrick Reisinger, Olga Miller, Caroline Phillips, Teghan Binnings and Mara Alioto.