K&L Gates has recently assisted JP Lease Products & Services in closing a Japanese Operating Lease with Call Option (JOLCO) financing of three Airbus A320 aircraft with ICBC Financial Leasing as Intermediate Lessee. This was the first JOLCO of its kind in the US market, with the deal structured by K&L Gates and Gilchrist Aviation (acting as FAA Counsel) utilizing the US Owner Trust structure. With an aggregate loan facility amount of US$112 million and a 10- to 11-year tenor, the financing follows ICBC’s initial acquisition of the three aircraft from JLPS Ireland in December 2021. The transaction involved a

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