International law firm Watson Farley & Williams (WFW) has advised commercial leasing company Avation on the refinancing of five aircraft with Investec, an Anglo-South African international banking and wealth management group.
The refinancing, which occurred between October and November 2023, concerned five aircraft (a mix of ATRs and A320s) which had each been leased to different lessees across a variety of jurisdictions. The aircraft will now augment Avation’s fleet of 35 aircraft currently on lease worldwide.
Noting his gratitude for the opportunity to have advised Avation on the transaction, leader of the WFW Singapore Aviation team Richard Williams concluded: “The challenge of the varied jurisdictions and assets involved, as well as the commercial teams and legal counsel, made it both stimulating and rewarding to work on”.
The team (supported by Associates Lyssetta Teo and Shauna Yong) also advised Investec on taking new security and local counsel in each jurisdiction regarding the requirements to register the change in financiers for the aircraft.