Burnham Sterling closes $153 million private placement with Avianca

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP March 16, 2015 22:11

Burnham Sterling closes $153 million private placement with Avianca

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, Colombia’s national airline, covering two A320 family and one Boeing 787 aircraft.  The transaction, which utilized an Enhanced Aviation Investment Vehicle private EETC Structure (EAIV), developed by Burnham Sterling, closed in November and December of 2014.

“This is the first time Avianca has been involved in this type of transaction, and we were very pleased with the execution of the deal and the flexibility it provides us with,” said Gerardo Alfaro, Director of Fleet Finance at Avianca.

“We are experiencing strong and growing demand from new investor sources seeking to finance commercial aircraft,” said Michael Dickey Morgan, Executive Managing Director at Burnham Sterling. “Burnham Sterling is structuring transactions to channel investor demand to meet the needs of airlines. We specialize in private placements which provide access to a growing global investor base, bringing new investors and attractive terms to our clients in the airline industry.”

Burnham Sterling structured the transaction, arranged the rating and placed the transaction with a major institutional investor. Avianca was represented by Greenberg Traurig, and Vedder Price represented EAIV.

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP March 16, 2015 22:11