AIP Capital (AIP), a global aviation asset management and investment firm, announced the closing of a US$230 million acquisition facility. The non-recourse facility provides financing for the purchase of seven Boeing 737 MAX 8 aircraft, that have been delivered or are scheduled to be newly delivered between 2021 and 2023, and are on long-term leases, to three airlines.
Citi acted as Sole Structuring Agent, Global Coordinator and Lead Arranger for the facility, and will also act as the Administrative Agent and Security Trustee for the Facility.
Jared Ailstock, Managing Partner of AIP commented, “This facility facilitates an early milestone for our platform and diversified strategy. These aircraft will be both owned and managed by AIP and are a foundation for the growth of our business.”
Gibson Dunn acted as legal advisor to AIP, and Clifford Chance acted as legal advisor to Citi. McCann Fitzgerald acted as legal advisor to AIP in Ireland, and PwC provided tax advice.
AIP Capital is a differentiated global aviation asset management and investment firm. The company was founded by an established team with nearly three decades of combined experience and ~US$10 billion of capital deployed across debt and equity in the aviation sector. AIP Capital is collaborative, agile and innovative in providing solutions to complex situations for its partners and stakeholders. (£1.00 = US$1.25 at time of publication).
