Conyers provided Bermuda law assistance to Aircastle Limited in connection with a US$500 million equity commitment from its shareholders, Marubeni Corporation and Mizuho Leasing. The shareholder equity commitment will be funded in two tranches, with US$200 million funded in July 2023 and the remaining US$300 million expected to be funded in the first quarter of fiscal 2024.

Mike Inglese, Aircastle’s CEO, commented, “We are pleased to announce this new commitment from our shareholders as it reflects their broad confidence in our long-term investment horizon and conservative balance sheet. For over three years, our unique ownership with Marubeni Corporation and Mizuho Leasing has bolstered our investment grade rating and retained our access to credit markets. This new capital positions us to be an industry-leading investor of liquid, in-demand narrow-body passenger aircraft.”

Aircastle acquires, leases and sells commercial jet aircraft to airlines throughout the world. As of 31 May 2023, Aircastle owned and managed on behalf of its joint ventures 253 aircraft leased to 73 lessees located in 43 countries.

Director Jason Piney and Senior Associate Andrew Barnes of Conyers’ Bermuda office advised on the matter.

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