Howard Millar Appointed Chief Operating Officer of Stellwagen Group & Chief Executive Officer of Stellwagen Capital

Stellwagen Capital to Launch Initial Capital Raise of $1 Billion in Q4 2016

DUBLN, 18 May 2016

The Board of Directors of Stellwagen Finance Company (the “Company”), the holding company which includes Dublin, Ireland based Aviation Finance Company and Seraph Aviation Management (“the Stellwagen Group”) announced that Howard Millar has been appointed Chief Operating Officer (“COO”) of the Stellwagen Group. Howard will also serve as Chief Executive Officer (“CEO”) of Stellwagen Capital* a newly formed subsidiary of the Company.

Howard Millar is the former Deputy Chief Executive and Chief Financial Officer of Ryanair Holdings plc, Europe’s largest airline, with a market capitalisation of $21 billion, where he served in a number of senior roles over 23 years. Howard is currently a Non-Executive Director of Ryanair Holdings plc.

Douglas Brennan, CEO of the Group, said:
“I can think of no better person to lead our team of investment professionals than Howard Millar. He brings game changing ability to the group with 23 years’ experience in aviation, including raising capital in the public and debt markets, using a range of financial products, while propelling Ryanair to become the largest and most profitable airline in Europe.”

“Howard will work closely with me as COO to drive the operating and financial performance of the Group. As CEO of our new subsidiary Stellwagen Capital, Howard will lead this innovative financing vehicle in raising capital from both the debt markets and from large institutional investors mainly, in Europe and the US. This capital will enable the Group to provide secured aircraft financing to airlines across the globe. This is a big step forward in the evolution of the Group and we expect Stellwagen Capital to launch its initial capital raise of $1 billion in Q4 2016.”

Commenting on his appointment Howard Millar, said:

“I am delighted to join the Stellwagen Group and its team of leading aviation professionals. I am looking forward to my role as Group COO and I will focus on driving the business forward by further profitably growing each of our business units and making the Stellwagen Group a major force in global aviation finance.”

“As CEO of the newly formed Stellwagen Capital I believe there is a great opportunity to raise significant amounts of capital to finance the world’s growing fleet of aircraft. The initial capital raise of $1 billion is slated for Q4 2016, and we expect to raise up to $5 billion over the next three years. We will use innovative and highly efficient structures to raise capital for secured financing of both new and delivered aircraft, and generate significant returns for our investors. The leveraging of my own and the Group’s outstanding aircraft financing knowledge and experience will have a transformational impact on the industry.”

ABOUT STELLWAGEN GROUP
The Group has a number of companies headquartered in Dublin in Ireland, Aviation Finance Company and Seraph Aviation Management.

STELLWAGEN CAPITAL LIMITED

Stellwagen Advisors Limited trading as Stellwagen Capital Limited (“StellCap”)* is the exclusive credit investing arm of the Stellwagen Group, focused on credit-oriented investment strategies in industries in which the Group has exceptional operating and financial competence. StellCap draws on the Group’s operating companies to deliver superior investment products to help institutional investors, banks and individuals invest in industrial fixed income strategies. StellCap currently specializes in aviation debt with key areas of focus that include senior secured loans, high yield instruments, and operating lease debt and stressed / distressed debt. The firm oversees investment companies that will deploy capital for banks, insurance companies, foundations, fund of hedge funds, and high net worth investors.

ABOUT STELLWAGEN FINANCE COMPANY
Stellwagen Finance Company (“SFC”) is a holding company that owns a number of operating companies headquartered in Dublin Ireland: Aviation Finance Company, an aviation investment bank, Seraph Aviation Management, an aviation leasing and service company, Stellwagen Capital and Stellwagen Technology Group.

For further information, please contact:
Pauline McAlester
Murray Consultants
Tel: +353-1-4980300 / +353-87-2558300
pmcalester@murrayconsultants.ie

MARC BOURGADE APPOINTED CHIEF EXECUTIVE OFFICER OF AVIATION FINANCE COMPANY

DOUGLAS BRENNAN REMAINS CHAIRMAN OF AFC AND STELLWAGEN GROUP CEO
Announcement Signals Business Expansion and Achievement of Company Milestones

DUBLIN, 9 March 2016 – The Board of Directors of Aviation Finance Company Limited today announced that Marc Bourgade will become the firm’s Chief Executive Officer, effective March 15, 2016, while Founder and CEO Douglas Brennan will continue to serve as Chairman and CEO of the Stellwagen Group of Companies, the parent of AFC. The company remains based in Dublin. Mr. Bourgade also will join the company’s Group Executive Committee.
Eugene O’Reilly, a director of the AFC Board, said, “Over the past three years, under the expert leadership of Douglas Brennan, we have built operations in Ireland and across the globe in the face of a highly competitive market. AFC has invested and arranged over $5 billion of debt for our industry by developing innovative products that have helped reshape how we organize and deploy capital in the aviation market.”
Mr. O’Reilly continued, “Doug and the management teams of AFC and Seraph have been working closely to ensure a seamless succession process. We are delighted that Marc Bourgade will take the mantle as CEO as we continue to build our premier franchises in investment banking as well as aircraft sales and trading, grow market share and deliver value for our clients, business partners and shareholders.”
Mr. Brennan said, “In Marc Bourgade, we found an outstanding leader for AFC with a proven track record of building outstanding teams, executing winning strategies and growing profitable businesses. Succession has been a top priority for me since I started the business, and I am confident that Marc and Eugene are the right leaders to propel us forward into a mature enterprise. I am excited about this next phase of growth for AFC.”
During the past two decades, Bourgade has worked in virtually every aspect of banking, particularly in the field of aviation financial services. He joins AFC from Natixis where he served as Head of Sectors & Clients for Aviation, Exports and Infrastructure and was one of the key architects of Natixis Aviation. Bourgade completed over $15 billion of transactions and has won over 20 awards, including Aviation House of the Year and other recognitions for his innovation. Prior to that, Bourgade served as Managing
Director of Aircraft Finance and acted as Chief Financial Officer of Natixis Transport Finance Bank. Bourgade began his career as a bank auditor.
Marc Bourgade graduated as a civil engineer from the ESTP (French Grande Ecole) in 1993. He also holds an MSC from the University of Birmingham and is a graduate of the Institut d’Etude Politique de Paris (French Grande Ecole). Marc enjoys travelling, skiing, horseback riding, foreign languages and electronics. Marc is fluent in French, Spanish and English.
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