Apr 2025
Conyers assisted Phoenix Aviation Capital (Phoenix), a full-service aircraft lessor, AIP Capital, an alternative investment manager focused on opportunities in asset-based finance, and LuminArx Capital Management (LuminArx), a global capital solutions provider, in connection with the listing of debt instruments totalling over US$35 million on the Cayman Islands Stock Exchange.
The debt was issued in four separate tranches, with both senior and junior debt being issued by certain wholly owned subsidiaries of Phoenix, the proceeds of which have been used in connection with the acquisition by Phoenix of a portfolio of three Airbus A330-300 aircraft. The portfolio includes two 2012 vintage Airbus A330-300 aircraft (MSN 1346 and 1367), both powered by GE CF6 engines and leased to China Airlines. The third aircraft, a 2015 vintage Airbus A330-300 (MSN 1690), is also powered by GE CF6 engines and leased to EVA Air.
Vinson & Elkins LLP served as transaction counsel and KPMG acted as tax advisor to AIP Capital. Milbank LLP served as transaction counsel and PwC acted as tax advisor to LuminArx. Conyers acted as Cayman Islands counsel to Phoenix and AIP Capital, and McCann FitzGerald LLP acted as Irish counsel to Phoenix and AIP Capital.
The Conyers team was led by Partner Barnabas Finnigan in London, with support from Counsel Nick Ward and Associates Lucy Macris and Daniella Carrazana.