NEWS

Helicopter Blades

WFW advises Deutsche Bank on the financing of the first Airbus Helicopters AS332 C1e Super Puma

2 April 2014

EN | FR

Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce it advised Deutsche Bank, Paris Branch (“Deutsche Bank”) on its Coface-backed financing of the first Airbus Helicopters AS332 C1e Super Puma helicopter. South African / Irish helicopter operator Starlite Aviation Group (“Starlite”) is the first customer to take delivery of the new Super Puma model.

Airbus Helicopters, a division of Airbus Group, unveiled this latest Super Puma helicopter at the 2014 Heli-Expo industry show in Anaheim, California, on 25 February 2014.

This acquisition is part of Starlite’s fleet renewal and expansion programme. Starlite will operate the new helicopter in Kosovo carrying out utility and medevac work for the European Union’s EULEX mission.

The WFW Paris team advised Deutsche Bank on the documentation and negotiation of the financing and security documents, liaising with local counsel throughout. A separate WFW London team advised the Security Trustee.

The WFW Paris team was led by Finance partner Charles Viggers, supported by associates Gail Cochrane and James Turner and by trainee solicitors Ariane Le Strat and Edward Craik. The WFW London team was led by Finance partner Michael Kenny, supported by associate Ian Clements.

Deutsche Bank was also advised by Matheson as to Irish law, by Apostolou & Co. as to Cypriot law and by Kalo & Associates as to Kosovar law.

Charles Viggers, who heads WFW’s aviation finance team in Paris, said: “The team is excited to have been able to contribute to Deutsche Bank and Starlite’s successful financing of this helicopter, the very first of its type to deliver.

“The documentation and negotiation phases of the transaction were intense. Working to a very tight timetable, all of those involved quickly focused on the essential outcome: finding the right balance between Starlite’s operational requirements and the requirements of Deutsche Bank’s Coface-backed financing.

“To make the most of Starlite and the helicopter’s strengths, Starlite need to be able to operate the helicopter worldwide and to move it quickly from one jurisdiction to another. Therefore, the documentation includes some particularly innovative features that can allow Starlite the operational flexibility that it needs,” he said.