Walkers acts as Cayman Islands Counsel in Closing of Thunderbolt II Aircraft Asset Backed Securitisation

Walkers acted as Cayman Islands counsel in Air Lease Corporation's recent securitisation of a portfolio of 18 jet aircraft.

The Thunderbolt II structure included the issuance by Cayman Islands incorporated issuers of two series of Fixed Rate Notes and equity in the form of Aircraft Portfolio Shares, comprised of 90% Global Aircraft Portfolio Shares and 10% Certificated Aircraft Portfolio Shares. The innovative equity structure introduced the first 144A / Reg S Aircraft Portfolio Shares to the market in a broadly distributed offering process where both the equity and debt securities were marketed and issued concurrently.

Walkers Fiduciary Limited also provided Cayman-based services (including independent director services and other administrative services) to the issuer of the Aircraft Portfolio Shares.

Walkers, led by Cayman Islands partner James Burch and senior counsel Joanne Ziegler, was instructed by Hughes Hubbard & Reed LLP, US counsel to Air Lease Corporation and the Issuers.

CAYMAN ISLANDS
James BurchPartnerT +1 345 814 4634james.burch@walkersglobal.com
Joanne ZieglerSenior CounselT +1 345 914 6387joanne.ziegler@walkersglobal.com