Burnham Sterling closes three-aircraft private placement financing with Avianca Holdings

Burnham Sterling & Co., a financial advisory firm specializing in transportation assets, has acted as lead arranger and sole book runner in a privately placed transaction for Avianca, Latin America’s second largest airline, for three aircraft, including two Airbus A320 family and one Boeing 787. The transaction utilized the Enhanced Aviation Investment Vehicle (EAIV) private debt structure developed by Burnham Sterling. It was Burnham Sterling’s first multi-currency EAIV providing both U.S. Dollar and Euro funding for Avianca. It also provided Avianca with attractive mezzanine funding, achieving loan-to-values as high as 95% of the appraised value. The transaction has a financing term as long as 12-years, and the last of the three aircraft was delivered in December 2016.