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Maples and Calder Advises on First UK Export Finance Bond

30 Jul 2013

LATAM Airlines Group ("LATAM") is the first airline to close a UK Export Finance backed bond. The Cayman Islands office of Maples and Calder advised LATAM in connection with the issuance; the proceeds of which were utilised to finance the acquisition of four Airbus A320 aircraft. 
"Maples and Calder is pleased to have been selected as Cayman counsel to act in connection with this innovative bond issuance by known market leaders," said Wanda Ebanks, Asset Finance partner in the firm's Cayman Islands office.
The financing involved the issue of a US$137.7m bond by Carpintero Finance Limited, a Cayman Islands company. The issuance was guaranteed by the UK's Export Credit Guarantee Department. Maples and Calder served as Cayman counsel to the Issuer whilst MaplesFS Limited provided administrative services to the Issuer.
"This deal further endorses the Maples group as the firm of choice for complex and unique finance transactions," added Mark Western, partner and Global Head of Asset Finance.

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Advising on the laws of the BVI, the Cayman Islands, Ireland, Jersey and Luxembourg, our global Finance team provides expert legal advice on even the most complex financial transactions under intense time pressure. Clients repeatedly return to our qualified finance lawyers to handle a variety of complex matters relating to acquisition and leveraged financing, asset finance, banking, debt capital markets, derivatives, fund finance, insurance linked products, Islamic finance, repackaging and structured finance.