Milbank Named “Aviation Finance Law Firm of the Year” and Earns Nine Deal of the Year Awards at Global Transport Finance Awards 2018

In the latest recognition of its position as a global leader in transportation finance, Milbank, Tweed, Hadley & McCloy LLP was once again recognized as “Aviation Finance Law Firm of the Year” and advised on nine Deals of the Year at the Global Transport Finance annual awards gala and dinner held in London on January 31.

Milbank advised on several of the year’s most significant transactions, nine of which were named Deals of the Year, including:

• Rail Lessor Refinance Deal of the Year (UK ROSCO Porterbrook’s £885 million refinancing of its existing bank facilities)
• AFIC Deal of the Year – Africa (US$230 million loan to Ethiopian Airlines to finance the purchase of five Boeing 737-800 aircraft)
• Aircraft Finance Tax Lease Deal of the Year (Crédit Agricole’s agreement with ICBC Aviation Leasing Co. for lease financing combined with the commercial debt of one B-777F aircraft to be operated by Turkish Airlines)
• Aircraft Finance EETC Deal of the Year – Europe (British Airways’ second EETC transaction, which also incorporates JOLCO tax equity)
• Aircraft Lessor Capital Markets Deal of the Year (Merx Aviation’s inaugural securitization – MAPS 2018-1, comprising of US$506 million in three tranches of notes secured by a portfolio of 25 aircraft)
• Cargo Aircraft ABS Deal of the Year (Vx Capital Partners’ 35 freighter aircraft ABS – Vx Cargo 2018-1 Trust, which was the first all-freighter securitisation)
• Aircraft Lessor M&A Deal of the Year (Amedeo Capital’s investment in Intrepid Aviation, creating the largest widebody-focused aircraft leasing company with assets of US$8 billion)
• Aircraft Finance EETC Deal of the Year – Americas (United Airlines’ $935 million offering of enhanced equipment trust certificates secured on a portfolio of 16 new Boeing aircraft, the largest EETC of the year)
• Aircraft Finance ABS Deal of the Year – Americas (Air Lease Corporation’s sale of a portfolio of 18 aircraft to Thunderbolt II, a newly formed aircraft leasing company composed of 90% Global Aircraft Portfolio Shares and 10% Certified Aircraft Portfolio Shares)

Drew Fine, chair of Milbank’s Finance practice and leader of its Transportation and Space group, said: “2018 was another incredible year that presented our group with opportunities to advise on the largest and most complex deals and further deepen our aviation and transport finance offerings. To once again be named Global Transport Finance’s Aviation Finance Law Firm of the Year is a tremendous testament to our market-leading position in the transportation and space sector.”

London Transportation and Space group partner James Cameron added: “Milbank always works on the sector’s largest, most innovative, groundbreaking structured transactions. We are delighted to have our work recognized by Global Transport Finance.”