BBAM Limited Partnership (BBAM) has announced its participation, alongside its long-term partner Nomura Babcock & Brown Co., Ltd. (NBB), in a USD 870 million transaction combining senior secured enhanced equipment trust certificates (EETC) and Japanese operating lease with call option (JOLCO) equity in relation to a number of new generation British Airways operated aircraft, the company said.
The transaction will provide financing for 11 aircraft, including two 787-8, two 787-9 and seven A320neo aircraft. The deal combines EETC and JOLCO structures, allowing the aircraft to be financed by the proceeds from the British Airways 2018-1 certificates and equity arranged by NBB.
Citi was the sole structuring agent, global coordinator and joint bookrunner for the EETC deal. Deutsche Bank and JP Morgan were the joint active EETC bookrunners and BBAM is the structuring agent for NBB and the JOLCO equity investors.
BBAM is the world´s largest dedicated manager of investments in leased commercial jet aircraft providing over 200 airline customers in more than 50 countries with fleet and financing solutions over the last three decades. BBAM is the only manager in the aircraft leasing industry focused exclusively on generating investment returns for third-party investors.
BBAM currently has more than 400 aircraft under management and employs over 120 professionals at its headquarters in San Francisco and in additional offices in New York, London, Tokyo, Singapore, Zurich, Dublin, and Santiago. BBAM has a 30 year partnership with NBB providing origination, management and remarketing for over 2,000 investors. For more information about BBAM, visit its website at www.bbam.com.