Aviation Loan ABS/CLO Transactions

The event will be chaired by Henry Morriello, head of the Structured Finance and Transportation Finance practices at Arnold & Porter. The seminar will provide an in-depth examination of the burgeoning landscape for the securitization of aviation loan assets and analyze key US and EU considerations for structuring transactions of this type.  

PANELS

Structuring & Rating Considerations

Panelists

Armin Rothauser (Moderator)—Head of Credit Investing, Starwood Capital Group

Radha Tilton—Managing Director, Goldman Sachs
Sajid Zaidi—Managing Director, Morgan Stanley
Matthew Simonetti—Managing Director, Citibank
Roman Schwartz—Director, Credit Suisse
J. Robert Peart—CEO, volofin Capital Management
Simon Sominsky—Director, Axonic Capital
Tracy Rice—Vice President, Moody’s Investor Service
Alan Greenblatt—Director, Kroll Bond Rating Agency 

Topics

• Know Your Assets (Diversified Pool vs Single Obligor; Airline vs Lessor Borrower; Recourse vs Nonrecourse; Aircraft Type; Jurisdictions; Transfer and Disclosure Restrictions)
• Know Your Goals (On Balance Sheet or Off; Ratings; Target Market and Method of Offering)
• Use of Structures of This Type in M&A Transactions
• Diligence Process
• Structuring Based on Asset Pool and Goals (Sales or Participations; Reinvestment or Substitution Rights; Waterfall Priorities; Placement of Subordinate Securities)
• Rating Agency Matters (Re-Leasing Risk; Foreclosure Rights; Maintenance Requirements)
• Servicing Decisions and Sacred Rights; Addressing Lessor Cure and Remarketing Rights
• Developing Disclosure

Legal, Regulatory & Tax Considerations

Panelists

Henry Morriello (Co-Moderator)—Arnold & Porter
Seamus O’Croinin (Co-Moderator)—A&L Goodbody 

Daniel Hartnett—Arnold & Porter
William Fellerhoff—Arnold & Porter
Mehtap Cevher Conti—Arnold & Porter
Karsten Giesecke—Arnold & Porter
Catherine Duffy—A&L Goodbody
James Somerville—A&L Goodbody

Topics

• Selecting Jurisdiction of IssuerTrue Sale and Nonconsolidation
  • Avoiding Issuer Level Tax
  • Tax Withholding
  • Insolvency Considerations
• Accounting and Regulatory Capital
• US and EU Risk Retention
• Brexit Impact
• Loan Issues (Transfer Restrictions; Confidentiality Provisions)
• Aircraft Issues (Cape Town Jurisdictions vs. Non-Cape Town Jurisdictions)