Building on the success of its global platform, in 2018 SkyWorks Holdings (SkyWorks) significantly expanded its investment and asset management businesses while simultaneously increasing its commitment to the advisory business.
SkyWorks has established a dedicated aircraft servicing platform, SkyWorks Leasing (Ireland) Limited, in its Dublin Ireland offices. In addition, SkyWorks created a new equity vehicle, Sierra Echo Aircraft Leasing Limited (Sierra Echo), for whom SkyWorks Leasing (Ireland) Limited will act as origination agent, servicer and asset manager. The launch of this aircraft vehicle further reinforces SkyWorks’ commitment to its global aviation clients by expanding the suite of services that SkyWorks now offers.
SkyWorks launched Sierra Echo during 2H 2018, acquiring through four transactions a total of eight Airbus and Boeing commercial jet aircraft on lease to five different operators in North America, Europe and Asia. Sierra Echo’s anchor investor is a large institutional investor aiming to conservatively grow its investment in commercial aviation with the benefit of SkyWorks’ origination, servicing, and analytical capabilities.
To leverage Sierra Echo’s investments, SkyWorks also closed a US$300 million debt facility. The facility was led by Bank of America, N.A. (as Structuring Agent and Joint Lead Arranger), with BNP Paribas and Royal Bank of Canada acting as Joint Lead Arrangers.
SkyWorks’ portfolio of assets under management is now over 60 aircraft, after having sold more than 180 aircraft on behalf of clients in the past five years.
