Vedder Price Counsels SKY Leasing on $663 Million Secured Notes Offering
Vedder Price is pleased to announce that it represented SKY Leasing (“SKY”), a full-service aircraft leasing company, in connection with the issuance of $663 million of secured notes (the “Notes”) by SLAM 2021-1 Limited and SLAM 2021-1 LLC (“SLAM”). SLAM expects to use a portion of the proceeds of the Notes to acquire a portfolio of 16 Airbus and Boeing aircraft valued at approximately $885 million. The portfolio features the youngest average aircraft age for an aircraft ABS ever issued, with an average age of 1.6 years and a weighted average lease term of 11.1 years. The portfolio includes the highest concentration of next generation narrowbody aircraft for an aircraft ABS with 10 A321NEO aircraft in the portfolio. SKY will act as servicer for SLAM’s aircraft portfolio.
“We are delighted to have participated in SKY’s latest aircraft ABS. We are proud to continue to partner with SKY and look forward to our growing relationship as we continue to deliver our extensive global experience and capabilities in aviation finance and capital markets. In addition, we are proud that together we can help validate SKY’s investment approach and be a part of their long-term growth strategy,” said Global Transportation Finance Shareholder Raviv Surpin.
In addition to Mr. Surpin, the Vedder Price team included Global Transportation Finance Shareholders, Clay C. Thomas, Kevin A. MacLeod and Associates Simone M. Riley, Daniel Spivey and Lisa Clark.
Vedder Thinking | News Vedder Price Counsels SKY Leasing on $663 Million Secured Notes Offering
Press Release
June 7, 2021
Vedder Price is pleased to announce that it represented SKY Leasing (“SKY”), a full-service aircraft leasing company, in connection with the issuance of $663 million of secured notes (the “Notes”) by SLAM 2021-1 Limited and SLAM 2021-1 LLC (“SLAM”). SLAM expects to use a portion of the proceeds of the Notes to acquire a portfolio of 16 Airbus and Boeing aircraft valued at approximately $885 million. The portfolio features the youngest average aircraft age for an aircraft ABS ever issued, with an average age of 1.6 years and a weighted average lease term of 11.1 years. The portfolio includes the highest concentration of next generation narrowbody aircraft for an aircraft ABS with 10 A321NEO aircraft in the portfolio. SKY will act as servicer for SLAM’s aircraft portfolio.
“We are delighted to have participated in SKY’s latest aircraft ABS. We are proud to continue to partner with SKY and look forward to our growing relationship as we continue to deliver our extensive global experience and capabilities in aviation finance and capital markets. In addition, we are proud that together we can help validate SKY’s investment approach and be a part of their long-term growth strategy,” said Global Transportation Finance Shareholder Raviv Surpin.
In addition to Mr. Surpin, the Vedder Price team included Global Transportation Finance Shareholders, Clay C. Thomas, Kevin A. MacLeod and Associates Simone M. Riley, Daniel Spivey and Lisa Clark.
