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Representative Matter 2. |
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Airbus A380 finance lease transaction involving Etihad Airways |
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| Yulchon acted for Hi Investment & Securities in the finance lease transaction involving an Airbus A380 aircraft. The aircraft was purchased by a Cayman Islands special purpose vehicle, which acted as the loan note issuer for the loan note issued to finance the purchase of the aircraft, which was leased to Etihad Airways PJSC. |
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| This financing was composed of the issuance of loan notes in the amount of USD290,000,000 by the Cayman Islands entity to raise funds for the purchase, which was backed by the issuance of private placement bonds by a local Korean special purpose company to a Korean investment trust. |
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| Yulchon provided comprehensive legal advice for the entire transaction from the structuring of the project, review and provision of tax advice and review and negotiation of all transaction, financing and security documents. Although Etihad Airways and other related parties were all in different jurisdictions (United Arab Emirates, Cayman Islands, Singapore and Korea), Yulchon successfully and smoothly handled the documentation, negotiation, signing and closing process within the required timeframe. |
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| This deal was led by Christopher Joon Tae Cho and handled by Sung Keun Park and Jung Pyo Seo of the finance group. Sang Woo Song and Su Hyeon Sung provided tax advice for the transaction. |
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