Aviation finance

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Term Loan B facilities

This Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in syndicated loans in leveraged

Sources of Shari'ah

IntroductionShari'ah (also Sharia, Shariah or Shari’a) (literally, in Arabic, 'the path towards the watering place') or Islamic law is the legal

Common financial covenants

This Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing

Negative pledges

This Practice Note examines:•why negative pledge clauses are used in commercial transactions •the consequences of breaching negative pledge

Practice notes

Foreign exchange (FX) derivatives

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...

19th Oct

Practice notes

What is securitisation?

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...

8th Oct

Practice notes

Synthetic securitisations

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...

8th Oct

Practice notes

Incremental debt flexibility or accordion features

What are incremental facilities?An incremental facility is feature included in a credit agreement where, subject to meeting certain pre-agreed...

26th Sep

Practice notes

Drafting and negotiating the facility agreement

This Practice Note covers the typical structure of facility agreements and the key terms and provisions that will be included. It examines the process...

26th Sep

Practice notes

Overdrafts, term loans and revolving credit facilities

This Practice Note explains the features of three common types of loan facility:•overdrafts•term loans, and•revolving credit facilities (RCFs)It also...

26th Sep

In-house

Practice notes

Types of debt securities

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...

26th Sep

Practice notes

Direct agreements in project finance transactions

What is a direct agreement?Direct agreements are very common in project finance transactions. A direct agreement is an agreement which gives the...

26th Sep

Practice notes

Events of default

This Practice Note considers:•the purpose of events of default included in facility agreements•common events of default relating to borrowers and...

26th Sep

COVID-19

In-house

Practice notes

Fixed and floating charges

There are four main types of security available under English law: •mortgage•charge•pledge, and•lienThis Practice Note explains:•the nature of a...

26th Sep

Practice notes

ISDA definitions

The vast majority of derivative transactions are documented by standard documentation developed and published by the International Swaps and...

26th Sep

In-house

Precedents

Real property mortgage: single company chargor—bilateral—specific monies

This Deed is made on [insert day and month] 20[insert year]Parties1[Insert name of Chargor], a company incorporated in England and Wales with...

26th Sep

Practice notes

Loan Market Association (LMA) leveraged documentation

Development of the Loan Market Association (LMA) documentationThe project to develop the LMA investment grade documents began in 1998 as a response to...

26th Sep

Practice notes

Loan Market Association (LMA)—news on documentation [Archived]

This Practice Note is an archive of news from the Loan Market Association (LMA) on LMA documentation and related topics. It covers LMA updates from...

26th Sep

Practice notes

Intercreditor agreement—key provisions

This Practice Note provides an introduction to intercreditor agreements and their key provisions. This Practice Note:•explains the purpose of having...

26th Sep

Practice notes

Role of a bond trustee

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...

25th Sep

Most recent Aviation finance content

Practice notes

Using special purpose vehicles in aviation finance—subsidiary companies, orphan trusts and limited partnerships

The use of special purpose vehicle structures is very common in aviation finance. They provide various advantages for lenders such as tax benefits and...

Produced in partnership with Norton Rose Fulbright 25th Sep

Practice notes

Registration of aircraft—security

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...

25th Sep

Practice notes

Getting the Deal Through: Air Transport 2021

Jurisdictions coveredThe following jurisdictions are covered in this report:Argentina; Bahamas; Belgium; Brazil; Canada; Chile; European Union;...

26th Sep

Practice notes

Getting the Deal Through: Aviation Finance & Leasing 2020

Jurisdictions coveredThe following jurisdictions are covered in this report:Argentina; Austria; Belgium; Bermuda; Brazil; British Virgin Islands;...

27th Sep

Practice notes

Residual value agreements—common features and mechanics

Residual value agreements are a tool for allocating the residual value risk in an aircraft.A good understanding of the sequence of events that will...

Produced in partnership with Norton Rose Fulbright 8th Oct

Practice notes

Aviation finance—tax leases

Aviation finance lends itself to tax leasing in many jurisdictions. Tax leases are usually a means of tax deferral. They can be advantageous, from a...

Produced in partnership with Norton Rose Fulbright 8th Oct

Practice notes

Guide to airline insolvency—international considerations and implications for office-holders

This Practice Note forms part of a set of Practice Notes on airline insolvency, for further information, see Practice Notes:•Guide to airline...

Produced in partnership with Mark Craggs of Norton Rose Fulbright 15th Oct

Practice notes

Guide to airline insolvency—insolvency proceedings and use of receivership

This Practice Note forms part of a set of Practice Notes on airline insolvency, for further information, see Practice Notes:•Guide to airline...

Produced in partnership with Mark Craggs of Norton Rose Fulbright 15th Oct

Practice notes

Registration of aircraft—initial registration and deregistration

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...

Produced in partnership with Norton Rose Fulbright 16th Oct

Practice notes

Use of insurance in aviation finance transactions

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...

Produced in partnership with Norton Rose Fulbright 16th Oct

Practice notes

Aviation finance and the Cape Town Convention

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...

Produced in partnership with Norton Rose Fulbright 19th Oct

Practice notes

Taking security over aircraft

STOP PRESS—Coronavirus (COVID-19) and registration of charges at Companies House: The content of this Practice Note is affected by the Companies etc...

Produced in partnership with Norton Rose Fulbright 27th Oct

Practice notes

EU emissions trading system and aviation

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...

Produced in partnership with Norton Rose Fulbright 27th Oct

Practice notes

Guide to airline insolvency—introduction

Coronavirus (COVID-19) and Corporate Governance and Insolvency Act 2020 This content is affected by the coronavirus (COVID-19) pandemic and the...

Produced in partnership with Mark Craggs of Norton Rose Fulbright 27th Oct

COVID-19

Practice notes

Guide to airline insolvency—Monarch Airlines case study

This Practice Note forms part of a set of Practice Notes on airline insolvency. For further information, see Practice Notes:•Guide to airline...

Produced in partnership with Mark Craggs of Norton Rose Fulbright 27th Oct

Practice notes

Aircraft lease maintenance obligations

When the lessor puts the aircraft on lease it will be concerned to ensure that the aircraft is operated in such a manner as will not unduly affect the...

Produced in partnership with Norton Rose Fulbright 28th Oct

Practice notes