Conyers Dill & Pearman advised Aircastle Ltd in connection with a new $400.5m term facility secured by 17 aircraft. The facility has a maturity of seven years and includes an accordion feature allowing for $67.5m in additional future funding. Funding of the facility will take place through several draw-downs, with the first one, for $167.3m, having taken place on 28 June 2016.

The financing was led by BNP Paribas, Credit Agricole Corporate and Investment Bank and The Bank of Tokyo-Mitsubishi UFJ (London Branch) as Joint Lead Arrangers as well as SGBT Asset Based Funding SA as Arranger and ING Bank and Columbia State Bank as lenders. BNP Paribas also acts as Agent and Security Trustee.

Jason Piney of Conyers’ Bermuda office advised on the matter working alongside Milbank, Tweed, Hadley & McCloy LLP and Pillsbury Winthrop Shaw Pittman LLP represented the lenders.