Burnham Sterling closes eight-aircraft private placement with Avianca Holdings

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By admin March 17, 2016 18:46

Burnham Sterling closes eight-aircraft private placement with Avianca Holdings

Burnham Sterling Securities, an investment bank specializing in transportation asset finance, has acted as lead arranger and sole book runner in a privately placed transaction for Avianca for eight aircraft, including six A320 family and two 787 aircraft.  The transaction utilized the Enhanced Aviation Investment Vehicle (EAIV) private EETC structure, which was developed by Burnham Sterling. The last of the eight aircraft delivered in December 2015. The total Burnham Sterling EAIV financing provided to Avianca accounted for 65% of the Company total fleet financing needs for the year 2015.

“This is Avianca’s second transaction using Burnham Sterling’s EAIV structure,” said Diana Calixto, Treasurer of Avianca. “We thoroughly evaluated and tested EAIV against competing products and execution alternatives, including EETCs.  We are very pleased with the pricing, terms and simplicity achieved by Burnham Sterling through EAIV and receiving financing consistent with the terms agreed months in advance of closing.  We were especially impressed with the new institutional investor relationships Burnham Sterling created.”

“Every investor in the Burnham EAIV financings closed by Avianca was a first-time investor for the airline, expanding the breadth and depth of their investor universe,” said Michael Dickey Morgan, Executive Managing Director at Burnham Sterling.  We are particularly pleased that our EAIV structure allowed Avianca to access the U.S. and Korean institutional investor market.

Burnham Sterling structured the transaction, arranged the rating and placed the transaction with six major institutional investors in the U.S., Europe and Asia.

admin
By admin March 17, 2016 18:46