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Vermillion to sign a large-scale secured facility for the refinancing of a portfolio

2018.10.17

Vermillion Aviation Holdings Limited (“Vermillion”), the aircraft leasing joint venture between CK Asset Holdings Limited and MC Aviation Partners Inc. (Mitsubishi Corporation’s wholly owned subsidiary), signed on 3 October 2018 a large-scale secured facility for the refinancing of a portfolio of 41 Airbus and Boeing aircraft.

Crédit Agricole Corporate & Investment Bank and Natixis acted jointly as Debt Coordinators for this USD 950 million facility with recourse to Vermillion.

The facility is provided by a group of 10 banks consisting of Crédit Agricole Corporate & Investment Bank, Natixis, BNP Paribas, HSBC France, Citibank N.A., DBS Bank Ltd., ING Bank, National Bank of Australia Limited, MUFG Bank, Ltd. and Société Générale each acting as Mandated Lead Arranger.

Crédit Agricole Corporate & Investment Bank is the Facility Agent and Security Trustee and BNP Paribas and HSBC are acting as Hedge Counterparties. 

White & Case represented Vermillion and Clifford Chance represented the Mandated Lead Arrangers.