Maples Group supported Kingston Airport Revenue Finance, a Cayman Islands special purpose vehicle, on the securitisation transaction led by the Government of Jamaica (GOJ).
The ‘KingAir’ transaction securitised the government of GOJ's right to its future receivables from concessions in the Norman Manley International Airport, to raise funds through the open-market issuance of rated and listed notes. The proceeds from the fundraising exercise have been earmarked for the GOJ's fiscal management policy and other key infrastructure development within the country, including the GOJ's $40bn project to develop the country's roads infrastructure under the SPARK programme.
The notes will be listed on the Luxembourg Stock Exchange (LSE), with the Maples Group acting as the listing agent.
The Maples Group's Cayman Islands legal team was led by partners, Wanda Ebanks and Matthew St-Amour, with assistance from associates, Meg MacAuley and Sorcha O'Keefe. The issuer team was managed by the group's fiduciary team, including Wendy Ebanks, Mora Goddard and Brent Whittaker.