McCann FitzGerald advises on Two “Deals of the Year” at the Airfinance Journal Awards 2020

The two award winning deals on which the firm advised are:

• Lessor Unsecured Bond Deal of the Year: AerCap $1.5bn Bond Issuance:  We acted for AerCap on this transaction which represented AerCap's first bond issuance post-Covid-19. The offering represented AerCap's largest senior debt tranche ever and set a new benchmark at approximately 50 basis points inside of where their curve was trading in the secondary market for a five-year issuance.

• Equity Deal of the Year: Norwegian Air Shuttle $1.6bn Recapitalisation: This transaction involved the conversion of approximately US$912 million of Norwegian Air Shuttle ASA’s operating lease obligations into shares and perpetual convertible bonds and the restructuring of its aircraft operating leases; this reorganisation plan facilitated the acceptance by Norwegian Air Shuttle ASA of financial support from the Norwegian Government. We represented a number of lessors on various aspects of the recapitalisation.