Freshfields Bruckhaus Deringer has advised KGAL Investment Management on the sale and leaseback arrangements for three Airbus A220-300 aircraft with Air Baltic.
According to Freshfields, “the aircraft are beneficially owned by KGAL APF 5, a fund for institutional investors established and managed by KGAL. The lease agreements have been arranged and are managed by German Operating Aircraft Leasing. The transaction marks the first cooperation between GOAL and Air Baltic, and with the Airbus A220 GOAL adds a new aircraft model to its asset portfolio.”
According to the firm, “the aircraft are debt financed by non-recourse loans which are cross-collateralized. The loans were arranged and fronted by Natixis and supported by a Balthazar insurance policy. This is the first Balthazar-backed transaction for KGAL/GOAL.”
Freshfields’ team included Vienna-based Principal Associate Mathias Lehner and Associate Willibald Salomon as well as team members in Frankfurt and London.
Freshfields Bruckhaus Deringer did not respond to our inquiry on the matter.
Editor's Note: After this article was published, Ellex announced it had advised Natixis in its capacity of lender and security trustee in financing the transaction for KGAL. The firm's team included Associate Partner Valters Diure and Senior Associate Beata Plocina.