October 11, 2018

Vermillion inks refinance facility

Vermillion Aviation Holdings Ltd, the aircraft leasing joint venture between CK Asset Holdings Ltd and Mitsubishi Corporation wholly owned subsidiary MC Aviation Partners, signed on 3 October a $950 million secured facility for the refinancing of a portfolio of 41 Airbus and Boeing aircraft.

Crédit Agricole CIB (CA-CIB) and Natixis acted jointly as debt coordinators for this facility with recourse to Vermillion.

The facility is provided by a group of 10 banks consisting of CA-CIB, Natixis, BNP Paribas, HSBC France, Citibank, DBS Bank, ING Bank, National Bank of Australia, MUFG Bank and Société Générale each acting as mandated lead arranger.

CA-CIB is facility agent and security trustee and BNP Paribas and HSBC are acting as hedge counterparties on the facility.

Law firm White & Case acted for Vermillion and Clifford Chance represented the mandated lead arrangers.