Asset Finance & Leasing

Our Asset Finance team advises banks, lessees, lessors and arrangers in relation to all types of domestic and cross-border financing of large and medium ticket assets and projects including aircraft, ships, rolling stock and other assets. We are familiar with all principal finance techniques used in the global asset finance industry. Our Asset Finance team includes taxation specialists to assist in transaction structuring.

Financing may involve commercial bank debt, capital markets or securitisation structuring PPP or other project finance.  We also advise on secondary debt transfer programmes, receivables financing, residual asset value guarantees, asset management and re-marketing. 

We also specialise in operating lease structures, tax based leasing and other structured tax products.

Our experience includes advising:

Aergo Capital Limited on its funding for the acquisition of Safair (Proprietary) Limited and Safair Lease Finance Proprietary Limited, a South African aviation leasing company.  The transaction saw Aergo take control of 33 aircraft in the Safair aircraft-leasing division and lease a further 9 planes from the parent company

Aircastle Group as the Irish legal and tax advisor to the Lead Arranger and Bookrunner in respect of the issuance of a first priority senior secured term loan in an initial amount of $786,100,000 to enable the Borrowers to, inter alia, acquire a portfolio of 28 aircraft from a group of Aircastle entities
 
Assured Guaranty Corporation and Ambac Assured Corporation on the US$1.04billion RBS Aerospace securitisation

Moonduster Limited in relation to the funding of its takeover bid of Irish Continental Group plc, Irelands leading maritime transport and leisure group

MBIA as financial guarantor on the debis-Air sponsored US$1billion floating rate ABS notes issued by debis-AirFinance Ireland Limited (now AerCap Ireland Limited). The proceeds of the note issuance were used by Aercap Ireland Limited to purchase a portfolio of 42 aircraft from the debis group

XL Capital Assurance (UK) Limited as financial guarantor in the Vega ContainerVessel 2006-1 plc US$300,000,000 securitisation transaction arranged by BNP Paribas.  This deal broke new ground for shipping companies looking to diversify their funding sources.  The transaction tapped the ABS capital markets, syndicate bank loan market and the corporate bond market to secure funding for up to 12 new panamax container ships to be operated by CMA CGM, the large French freight corporate

3P Air Freighters Limited, a member of the Petercam Group, as Irish legal and tax advisor to in connection with the funding and acquisition, in conjunction with CMB, of the Air Contractors Group, one of Europe’s leading providers of aircraft services

We are consistently ranked as one of the leading Banking & Financial Services law firms in Ireland.

Department
'The banking team at William Fry continues to occupy a prominent place in the Irish market.'
Chambers Europe, 2012 - Banking & Finance

Sources say: 'The team is extremely smart and most importantly it is good at recognising a client's objective.'
Chambers Europe, 2012 - Tax

William Fry’s ten-partner group constitutes "a very experienced team" of "good negotiators" that "goes well beyond normal client service expectations".
Legal 500 EMEA, 2012 - Banking & Finance

William Fry's practice is "praised for its strong market repuation, excellent long established working relationships and proven track record."
Legal 500 EMEA, 2011 - Banking & Finance

"Headed up by the highly thought of Martin Phelan, William Fry’s team continues to drive forward in the Irish market."
Legal 500 EMEA, 2011 - Tax

Clients highlight qualities of the team such as "its speed in dealing with a query, using language that I can understand, and its consistent professional courtesy of keeping us in the loop at every stage of the process."
Chambers Europe, 2011 - Tax

Clients readily recommend William Fry for tax work: “It is great using William Fry for tax because we get a more personal service than you might at the big accounting firms. Its approach is to get a truly deep understanding of our business, and focus on solutions.”
Chambers Global, 2010 - Tax

William Fry is "attentive to needs" and scores points for its "in-depth knowledge and practical application" and its "excellent access to partners".
Legal 500 EMEA, 2010  - Banking & Finance

William Fry fields an "experienced team" under Martin Phelan.
Legal 500 EMEA, 2010 – Tax

Team

Elaine Hanly
Elaine Hanly 'has an impressive track record and wins the admiration of her peers.'
Chambers Europe, 2012 - Banking & Finance

Elaine Hanly is "highly regarded for her varied expertise". 
Chambers Global 2011 - Banking & Finance

Team head Elaine Hanly "guides you through the instruction with military precision".
Legal 500 EMEA, 2010  - Banking & Finance

Elaine Hanly is the group’s leading figure. Her extremely broad practice is complemented by her expertise in structured finance, derivatives, securitisation and debt capital markets.
Chambers Global, 2010 – Banking & Finance

Orla Brennan
'Orla Brennan handles a broad range of banking and finance work for an impressive client base.'
Chambers Europe, 2012 - Banking & Finance

Orla Brennan is highlighted for her "all-round excellence".
Legal 500 EMEA, 2012 - Banking & Finance

Sources hail Orla Brennan's dedication to her work and her ability to convey the most complicated legal technicalities in a clear and understandable way.
Chambers Global 2011 - Banking & Finance

Orla Brennan "goes above and beyond the call of duty," according to clients, who also praise her negotiating skills and ability to "communicate the key points in a simple manner."
Chambers Europe, 2011 - Banking & Finance

Orla Brennan is "particularly good".
Legal 500 EMEA, 2010  - Banking & Finance

Orla Brennan has substantial experience within domestic and international banking and finance.
Chambers Global, 2010 – Banking & Finance

Rachel Stanton
Rachel Stanton is highlighted for her "all-round excellence".
Legal 500 EMEA, 2012 - Banking & Finance

Rachel Stanton is picked out by clients as ‘highly experienced, quick to respond, commercial in her view and excellent to work with’.
Legal 500 EMEA, 2011 - Banking & Finance

Martin Phelan
Martin Phelan is a towering force in the local market and enjoys recognition on a global scale. With a special interest in tax aspects of M&A and restructuring, he is described as a 'constructive, creative and compliant adviser.'
Chambers Europe, 2012 - Tax

Sources praise Martin Phelan, whose "profound knowledge allows him to give excellent industry-specific solutions."
Chambers Global, 2011 - Tax

"Practice head Martin Phelan is a highly regarded figure in the market. He is particularly experienced in relevant aspects of M&A and restructuring transactions, and he has recently advised extensively on the migration of IP portfolios to Ireland". 
Chambers Europe, 2011 - Tax

Martin Phelan is a “commercially minded practitioner who delivers structures quickly”.
Chambers Global, 2010 – Tax

Martin Phelan "understands clients' needs and gets them to where they want to go effortlessly".
Legal 500 EMEA, 2010 – Tax

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