AFC parent, Stellwagen arranges sale of Emirates A380 to Magi Partners

London, 11 October, 2015

Korean institutions provide 100% financing for Emirates A380 operating lease

First Emirates A380 entirely financed by Korean investors

London-­‐based  aviation  finance  arranger  Magi  Partners,  working  in  conjunction  with  its  Seoul-­‐based joint venture partner Youjee Partners, has arranged the purchase of an A380-­‐800 on lease to Emirates from Stellwagen Finance Company Limited, the holding company for Aviation Finance  Company (“AFC”).  AFC initially arranged 100% of the bridge capital for Magi Partners  and Youjee Partners, facilitating the lease novation and sale.

Magi  Partners  and  Youjee  Partners  have  placed  the  operating  lease  for  the  A380-­‐800  entirely  with the Korean institutional investor market by means of a private placement with a group of Korean  non-­bank  financial  institutions,  investing  through  a  Korean  fund  structure.  This  transaction marks the first A380-­‐800 operating lease financed entirely by Korean investors.

Lease  management  services  to  the  Korean  investors  are  being  provided  by  Magi  Partners  Aircraft Management Limited (“MPAM”).

Yulchon  LLC  (Seoul),  Clifford  Chance  (Singapore)  and  Walkers  (Cayman)  acted  for  the  Korean  investors; Allen & Overy (London) acted for AFC and Pillsbury Winthrop Shaw Pittman acted for Emirates.

Sean Cleghorn, Partner of Magi Partners said: “We are delighted to have been able to complete this ground-­‐breaking transaction with such a prestigious airline as Emirates. Korean institutions provide  a  growing  source  of  capital,  through  increasingly  diverse  products,  for  the  global  aviation market and we look forward to completing more such transactions in the future.”

“Working  with  such  quality  counterparties  such  as  Emirates,  Magi  and  Youjee  is  particularly  rewarding,” said Douglas Brennan, Chief Executive Officer of AFC. “It affirms the strength of our business model and demonstrates the capabilities AFC brings to the table. I am delighted that the AFC team was able to facilitate this transaction for Magi and the Korean market.”

About Magi Partners

Magi Partners  is  an  independent  London-­‐based  arranger  specialising  in  aviation  finance.  It’s  primary focus is the Korean non-­‐bank institutional investor market where it works exclusively in joint  venture  with  its  Seoul-­‐based  partner,  Youjee  Partners,  the  leading  arranger  of  aircraft  finance in Korea.

Over the last 12 months, Magi and Youjee have together placed three landmark transactions in the Korean market: a junior debt refinancing for an A380 on lease to Singapore Airlines (closed Oct 2014), a 15 year Korean Finance Lease for a new A380 for Etihad Airways (closed Feb 2015) and  the  Emirates  A380  operating  lease  referred  to  above  (closed  Sept  2015).  See  also  magi-­partners.com

About AFC

Aviation Finance Company Limited provides alternative sources of capital and arranges financing solutions  through  innovative  financial  engineering  to  meet  the  needs  of  the  global  transportation industry. AFC, headquartered in Dublin, Ireland, along with its sister company, AFC  LLC  in  New  York  is  a  wholly-­‐owned  subsidiary  of  Stellwagen  Finance  Company  Limited.  The AFC group works collaboratively with investors, airlines and aircraft manufacturers to deliver  outstanding  finance  solutions  and  service,  a  reliable  investment  partner  and  financial  advisor to airlines and aviation operators seeking debt and equity financing. See also www.avfinco.com

Contact:
Sean Cleghorn, Partner, Magi Partners, sean.cleghorn@magi-­‐partners.com
Karen Payes, Investor Relations, Aviation Finance Company Limited, kpayes@avfinco.com

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