Donna Ager
Partner
London
Dec 20, 2023
APL Finance 2023-1 Designated Activity Company and APL Finance 2023-1 LLC (together, "APL Finance 2023-1") issued $324.3 million of notes on 15 December 2023.
The proceeds of the notes, which were oversubscribed, will be used to acquire a portfolio of eleven loan facilities comprised of 26 loans secured by 19 narrowbody aircraft, three widebody aircraft and four narrowbody host aircraft engines on lease to twelve lessees located in eleven jurisdictions. Ashland Place will be the servicer to APL Finance 2023-1 and the Class A, Class B and Class C Notes have received investment grade ratings from Kroll Bond Rating Agency, LLC (KBRA).
The Walkers team was led by partner, Matt Hedigan, working closely with Tax of counsel, Eimear Burbridge and Asset Finance associates, Ed Butler and Roisin O'Connor.
Walkers have advised Ashland Place since the launch of the commercial aviation financing platform in 2021 and are very proud to have advised on this milestone transaction for the business alongside Allen & Overy LLP, who acted for Ashland Place, and Milbank LLP, who acted for ATLAS SP Partners, the sole structuring agent.
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