Archive for July, 2018

Magi welcomes Fraser Chestney as new senior team member

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London-based aviation finance specialist and aircraft manager Magi Aviation Capital (Magi) is pleased to announce that Fraser Chestney will be joining Magi from September 2018.

Fraser is an international aircraft financier and lessor with a proven track record in the structured finance market. He has over 24 years’ experience in the aviation financing and leasing sector, as financier and lessor, with NatWest, Banca Intesa, Lloyds TSB and SMBC. Most recently he was Managing Partner in London for Doric Partners LLP, where he was Head of Origination. He brings with him a deep knowledge of investors and their requirements, a comprehensive understanding of key negotiation and execution issues in aircraft finance transactions as well as a strong network of airline, lessor and bank relationships.

Peter Vardigans, Partner at Magi said: “We are delighted that Fraser has chosen to join the growing team and business at Magi. Fraser brings core skills and relationships to Magi which, we are confident, will further enable the company to move forward to its next and exciting stage of development.”

Magi Aviation Capital arranges sale & leaseback of two more B777-300ER aircraft with Qatar Airways

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London-based aviation finance specialist and aircraft manager Magi Aviation Capital (Magi) has arranged the sale and leaseback of two B777-300ER with Qatar Airways. Following these latest deals Magi has now arranged a total of seven sale and leasebacks of the type for Qatar Airways.

Korean institutional investors arranged by KTB Investment & Securities provided the equity and mezzanine funding. Senior debt was arranged by Australia and New Zealand Banking Group Ltd (ANZ) and provided by ANZ, IBJ Leasing and NEC Capital. ANZ also acts as Facility and Security Agent.

Magi will act as servicer and lease administrator for the aircraft, bringing to seven the total number of aircraft managed in its all-widebody fleet with an asset value in excess of USD1.2bn.

English legal counsel for Magi was Vedder Price (London); Korean counsel was Yulchon (Seoul). Cayman Islands counsel was Walkers. Clifford Chance (Singapore) acted on behalf of the senior lenders.

Sean Cleghorn, Partner at Magi said: “This transaction represented a great opportunity for us to continue our excellent track record in Korea, whilst growing our strong relationship with one of the world’s leading airlines, Qatar Airways. We are also delighted that our continued partnership with the highly professional and innovative team at ANZ has contributed to an important transaction for all parties”.