NEWS

Helicopter Blades

WFW advises lenders on $300 million helicopter financing

29 July 2013

Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised Lloyds Bank, Lombard and Barclays Bank plc on the financing of a portfolio of helicopters for the purpose of offshore oil and gas operations.

The financing for the initial portfolio of helicopters was completed on 12 July with helicopters valued at approximately US$400 million to be financed over the next 18 months. Lloyds Bank through its Corporate Asset Finance team acted as the arranger and agent with Lombard and Barclays as lenders.

The helicopters are being leased by The Milestone Aviation Group to affiliates of Bristow Group Inc. Formed in 2010, Milestone is a global aircraft finance company providing lease financing exclusively to the helicopter market.

Aviation partner Rex Rosales led the team and was supported by asset finance partner Jahnavi Ramachandran and associate Alexander Wilson as well as tax partner Richard Stephens (all WFW London).

Rex Rosales, Head of Transport at WFW, said: “We are delighted to have been involved in such an innovative and complex financing, which further emphasizes our capability in and commitment to the wider aviation sector.“

In June WFW was appointed to the panel of firms acting for the export credit agencies of the UK, France and Germany on new Airbus aircraft transactions.