Burnham Sterling & Co. LLC , a financial advisory firm specializing in transportation assets, has acted as lead arranger and sole book runner in a privately placed transaction for Latin American airline Avianca for 3 aircraft, including 2 Airbus A320 family and 1 Boeing 787, the firm said.
The transaction utilized the Enhanced Aviation Investment Vehicle (EAIV) private debt structure developed by Burnham Sterling. It was Burnham Sterling´s first multi-currency EAIV providing both US dollar and Euro funding for Avianca. It also provided Avianca with attractive mezzanine funding, achieving loan-to-values as high as 95% of the appraised value. The transaction has a financing term as long as 12-years, and the last of the three aircraft was delivered in December 2016.
Burnham Sterling structured and placed the transaction with four institutional investors in Europe and Asia. Burnham Sterling and its affiliates have now financed fourteen new narrow-body and wide-body aircraft for Avianca.
Burnham Sterling is a financial advisor focused on the transportation and leasing industries. The firm 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.