Conyers advises Castlelake on $713m aircraft securitisation

Conyers provided Bermuda law advice to Castlelake, L.P. in connection with its US$713 million aircraft securitization. The deal, Castlelake Aircraft Securitization Trust 2015-1 (CLAS 2015-1), is backed by 54 aircraft and six aircraft engines with a weighted average age of approximately 15 years. The aircraft and engines are on lease to 23 airlines in 18 countries.

Castlelake will act as servicer on the deal. Deutsche Bank Securities, Inc. and Goldman Sachs & Co. are the lead bookrunners on the transaction with Citigroup Global Markets Inc. and Credit Agricole Securities (USA) as joint bookrunners. DVB Capital Markets LLC, Mitsubishi UFJ Securities (USA) and Credit Suisse Securities (USA) LLC are acting as co-managers for the transaction. Crédit Agricole CIB, acting through its New York Branch, serves as liquidity facility provider.