EWA Air closes private placement bond-supported French tax lease

Watson Farley & Williams (WFW) has advised Investec Bank as lead arranger, agent and trustee on the €36m private placement bond in relation to the financing of the purchase and French tax leasing of two ATR72-600 aircraft for EWA Air. The transaction was guaranteed by ATR, EWA Air and Air Austral. La Banque Postal provided a structurally subordinated loan in respect of the corresponding tax benefit. A wholly separate WFW team advised ATR on the transaction. This was an innovative and first of its kind private placement bond, and the first time that a bond has been used to fund