Amedeo acquires first A380 on balance sheet, aircraft delivered to Emirates

Amedeo announced (10-Sep-2014) the acquisition of its first owned A380. Amedeo CEO Mark Lapidus said: "This is an important milestone in Amedeo's business plan. We are delighted to be able to continue our long-lasting relationship with Emirates built in the spirit of partnership and innovation. This is the first A380 acquired by an operating lessor on its balance sheet, which is a strong endorsement for the aircraft and its unrivalled market positioning". The aircraft (MSN 157) was delivered to Emirates as part of a sale and leaseback transaction on 04-Sep-2014 at the Airbus Delivery Centre in Hamburg and was placed on a 12-year operating lease. The financing was a combination of senior and junior loans provided by a bank syndicate, including Commercial Bank International, Qatar National Bank (QNB), Sumitomo Mitsui Trust Bank and Westpac Banking Corporation (Westpac). Westpac acted as the Senior Agent and the Security Trustee and QNB acted as the Junior Agent. Norton Rose Fulbright acted on behalf of Amedeo in relation to the lease documentation. Vedder Price acted on behalf of the lenders with respect to the loan documentation and Pillsbury Winthrop Shaw Pittman advised Emirates. [more - original PR]