Corporate & Aviation Finance From the largest-ever airline debt financing for United, to a first-of-its-kind financing for aircraft servicer Griffin, to Hawaiian’s $1.2B bond offering, Hughes Hubbard maintained the lead in aviation finance that’s made the firm a perennial winner of Airfinance Journal’s Deal of the Year awards. The firm’s corporate department also worked on a major IPO and first-of-their-kind financings for a number of countries.
United Airlines’ $10.75B Debt Financing, the Largest Ever
HHR represented United Airlines, Inc. in a $10.75 billion debt financing secured by liens on the company’s international route authorities, take-off and landing slots and airport gate leaseholds. This is the largest debt financing by an airline in history.
Coupang’s $4.6B IPO, Biggest in US in 2021
HHR acted as legal advisor to Coupang in the South Korean e-commerce giant’s nearly $4.6 billion initial public offering on the New York Stock Exchange.
Griffin JV’s $1B First-of-Its-Kind Financing
Hughes Hubbard acted as legal advisor to joint venture partners Griffin Global Asset Management LLC and Bain Capital Credit L.P. in a five-year, $1 billion senior secured warehouse facility.
Green-Linked Loan for Global Paper Giant
The firm served as counsel to BNP Paribas as administrative agent and a syndicate of 10 banks in a $1.57 billion credit facility structured as a sustainability-linked loan for the European unit of Brazilian pulp and paper company Suzano.
Banks’ $2B Loan to Special Purpose Borrower of AerCap for Acquisition of GECAS Fleet
HHR represented the arrangers, lenders and agents, which included Citibank, N.A. and Goldman Sachs USA, as joint mandated lead arrangers and structuring agents and joint bookrunners, for a $2 billion senior secured credit facility to Setanta Aircraft Leasing DAC, a special purpose borrower of the AerCap Holdings Group.
Côte d’Ivoire’s Financing and Construction of First Biomass Power Plant
HHR is advising the Republic of Côte d’Ivoire on the financing of the construction and operation of the country's first biomass plant, the country's first and West Africa's largest biomass power plant. Our advice includes negotiating with the banks the direct agreement with the State, setting out the terms of the relationship between the banks and the State for the duration of the project.
Hawaiian Airlines’ $1.2B Bond Offering
The firm represented Hawaiian Airlines Inc. in its $1.2 billion bond offering amid the company’s recovery from the pandemic.
Argentina’s Largest Private Fundraising Round Ever
HHR served as legal counsel to Latin American fintech Ualá in a new round of preferred equity financing for its financial services app.
Blackbird Capital II in a $745M Aircraft Asset-Backed Notes Offering
HHR represented aircraft lessor Blackbird Capital II in a $745 million aircraft asset-backed notes offering.
Paraguay State Bank’s First International Funding
Hughes Hubbard represented Paraguay’s state-run Banco Nacional de Fomento in its first U.S. dollar funding from international financial markets.
Warehouse Financing for GECAS (now AerCap) and PIMCO Aviation Leasing Platform
Hughes Hubbard advised Goldman Sachs as lead structuring agent in connection with a new revolving warehouse credit facility that will provide financing to a joint venture of GECAS (now AerCap) and PIMCO for the purpose of acquiring and leasing aircraft.
West African Cotton Ginnery’s International Financing
HHR’s Paris team represented West African cotton company Société d'égrenage de Coton, or the Society for the Development of Cotton, in negotiation and documentation of an €80-million pre-export financing. Sodeco will use the proceeds for the financing of its 2021-2022 cotton season. The firm helped establish local collateral security agreements subject to the OHADA (Organization for the Harmonization of African Business Law) Uniform Act regulating securities.