Conyers advises Aircastle on issuance of shares to Marubeni Corporation
Conyers Dill & Pearman has advised Aircastle on its issuance to Marubeni Corporation of 12,320,000 common shares of Aircastle, representing 15.25 per cent of Aircastle’s issued and outstanding common shares, after giving effect to the issuance, at a price of $17 (£11) per share, for gross proceeds of approximately $209m.
The transaction closed on 12 July 2013.
Aircastle acquires, leases and sells high-utility commercial jet aircraft to airlines throughout the world. As of 31 March 2013, its aircraft portfolio consisted of 158 aircraft leased to 66 lessees located in 36 countries.
Conyers’ Jason Piney from the firm’s Bermuda office advised on the transaction, working alongside Skadden, Arps, Slate, Meagher & Flom. Clifford Chance (New York) acted for Marubeni.
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