29 June 2021
McCann FitzGerald advises on Two “Deals of the Year” at the Airfinance Journal Awards 2020
McCann FitzGerald’s Global Aviation Finance practice has been recognised for its role in two “Deals of the Year” at the Airfinance Journal Awards 2020 which were announced on 23 June.
The two award winning deals on which the firm advised are:
- Lessor Unsecured Bond Deal of the Year: AerCap $1.5bn Bond Issuance: We acted for AerCap on this transaction which represented AerCap's first bond issuance post-Covid-19. The offering represented AerCap's largest senior debt tranche ever and set a new benchmark at approximately 50 basis points inside of where their curve was trading in the secondary market for a five-year issuance.
- Equity Deal of the Year: Norwegian Air Shuttle $1.6bn Recapitalisation: This transaction involved the conversion of approximately US$912 million of Norwegian Air Shuttle ASA’s operating lease obligations into shares and perpetual convertible bonds and the restructuring of its aircraft operating leases; this reorganisation plan facilitated the acceptance by Norwegian Air Shuttle ASA of financial support from the Norwegian Government. We represented a number of lessors on various aspects of the recapitalisation.