Clifford Chance

Clifford Chance advises lead arranger banks Citibank, BNP Paribas, HSBC Bank Middle East and MUFG Bank in connection with the financing of Avilease's $3.6bn acquisition of Standard Chartered's aircraft leasing business.

Leading international law firm Clifford Chance has advised a syndicate of banks led by Citibank, BNP Paribas, HSBC Bank Middle East and MUFG Bank in relation to a $2.1bn acquisition financing for AviLease.

The transaction involved the acquisition by AviLease of Standard Chartered's aircraft leasing business for a total consideration of $3.6 billion as part of its exit from the aviation leasing and financing sector.

Upon completion of the acquisition by AviLease (a Riyadh-based company backed by Saudi Arabia's PIF sovereign wealth fund), the Saudi entity will become the owner and manager of a fleet comprising more than 120 aircraft.

The Clifford Chance team team was led by partner Graham Brewer with support from senior associates Bola Coker, Paul Langley and associate Tanvi Pahwa, working alongside our KSA office AS&H Clifford Chance and New York office.

Partner Graham Brewer comments "We are delighted to have advised the lead arranger banks on this first-of-a-kind complex cross-border transaction which promises to be transformational for AviLease as they continue to solidify their position as a leading global aircraft lessor".

Consistently ranked Band 1 in legal directories, Clifford Chance was named Banking Legal Adviser of the Year at the Bonds, Loans & Sukuk Middle East Awards 2022, International Law Firm of the Year (Middle East) at the Middle East Legal Awards 2023 and Middle East International Law Firm of the Year at the Chambers Middle East Awards 2021. Clifford Chance was also awarded 15 awards at the recent Bonds, Loans and Sukuk Awards 2023.