Law firm Stephenson Harwood LLP has advised VMIC Aviation on the refinancing and lease extension of an Emirates-operated Boeing B777-300ER aircraft.
The transaction involved the prepayment of the existing senior loan from, amongst others, Helaba, BOT Lease Co., Ltd. and NEC Capital Solutions Ltd and refinancing with an incoming senior loan arranged by AV AirFinance as loan servicer.
The transaction was arranged by VMIC Aviation, a Seoul-based asset manager, which acted as the arranger and lease manager on the deal. The transaction is the first instance of a South Korean-based asset manager completing a simultaneous lease extension and refinancing of an aircraft.
The Singapore-based team comprised of partner Saugata Mukherjee, managing associate Clement Leung and associate Bong Yumi.
