Jurisdiction - China
Baker & McKenzie Advises Air China On US$262m Secured Notes Issuance.

11 February, 2014


Baker & McKenzie’s securities team recently advised Air China Limited (“Air China“), as the lessor, and Sandalwood 2013 LLC, a special purpose trust, on the respective offerings of US$130m 2.836% secured notes due 2025 and US$132m 2.897% secured notes due 2025, both guaranteed by the Export-Import Bank of the United States (“US Ex-Im Bank“). The transaction featured a flip-to-capital markets option in which the proceeds from the offering will be used to re-finance a US Ex-Im loan for the leasing of two new Boeing 777-300ERs. 


The Baker & McKenzie team was led by partners Harvey Lau and Brian Spires. They were supported by Christopher Shen, as well as consultant Ding Yi.


The lessee was represented by Run Ming Law Firm (PRC law); the bookrunners were represented by Clifford Chance; and Ex-Im Bank was represented by Vedder Price.


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