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LP and King & Wood Mallesons Advise China Development Bank on Aircraft Financing Project

LP and King & Wood Mallesons Advise China Development Bank on Aircraft Financing Project

Russia
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Liniya Prava, working in cooperation with King & Wood Mallesons, has advised the China Development Bank (CDB) Henan branch on financing provided to a Henan joint venture leasing company related to its lease of 16 Airbus A320 and A321 aircraft to Aeroflot.

According to Liniya Prava (LP), "On 28 April 2017, the first three new Airbus A320-214 aircrafts were successfully delivered to the Airbus Blagnac Delivery Center, France and the Hamburg Delivery Center, Germany. The transaction marked the first aircraft financing project for a financial institution in Henan province. The project was also an important part of CDB’s effort to support the Russian aviation industry and local leasing companies 'going global,' promote the 'Belt and Road' infrastructure initiative, and deepen regional economic cooperation."

LP acted as Russian counsel to the CDB Henan branch and, among other things, reviewed financing and leasing documentation from a Russian law perspective, preparer Russian security documents, conducted legal due diligence in respect of the lessee, and confirmed Russian law-related conditions precedent.

The LP team was led by Partner Vadim Konyushkevich with support from Associates Kirill Rubashevskiy, Gleb Bazurin, and Aleksandra Braterskaya. According to Konyushkevich: "This project shows growing interest and trust of Chinese major financial institutions in the Russian aviation industry. Moreover, it is noteworthy evidence of the successful implementation and development of the 'Belt and Road' initiative. We were honored to work closely with King & Wood Mallesons for the benefit of Henan branch of our longstanding client – China Development Bank. Due to its size and cross-border nature, the project was very challenging, and we are happy to contribute to it by sharing our expertise in support of such financing transactions and in advising Chinese business in Russia.”

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