Burnham Sterling Securities LLC (Burnham Sterling) has acted as lead arranger and sole book runner in a privately placed transaction for Avianca (NYSE: AVH) for eight aircraft, including six Airbus A320 family and two Boeing 787 aircraft, the company said.
The transaction utilized the Enhanced Aviation Investment Vehicle (EAIV) private EETC Structure, which was developed by Burnham Sterling. The last of the eight aircraft delivered in December 2015. The total Burnham Sterling EAIV financing provided to Avianca accounted for 65 percent of the company total fleet financing needs for the year 2015.
Burnham Sterling structured the transaction, arranged the rating and placed the transaction with six major institutional investors in the US, Europe and Asia.
Burnham Sterling is a specialized investment bank focused on the transportation and leasing industries. Burnham Sterling is led by Michael Dickey Morgan, the former head of Babcock & Brown´s aircraft advisory and placement group and is based out of B&B´s former Greenwich, Connecticut office. Burnham Sterling and its affiliates have financed or acted as financial advisor on billions of dollars of major transportation assets.