10 January 2019

Carey Olsen advises on multi-million pound aircraft funding deal

Lawyers from Carey Olsen's corporate team in Guernsey have advised RBS International on a multi-million pound loan facility with Aurigny that enables the airline to purchase three new aircraft.

The loan from RBS International provides the States of Guernsey owned airline with the necessary capital required to purchase three ATR72-600s from Avions de Transport Regional GIE. The new aircraft incorporate ClearVision technology designed to reduce the disruption caused by fog.

Partner Andrew Boyce led the Carey Olsen team advising RBS International and was assisted by senior associate Vaishali Gupta and associate Rachel de la Haye. The firm acted as lead counsel on behalf of RBS International on the finance it was providing, which included the arrangement of a 10-year term loan facility that was guaranteed by the States of Guernsey in support of the acquisition.

Mr Boyce said: "We were very pleased to assist RBS International in bringing this multi-million pound loan deal to fruition. The deal is not only notable because of the significant capital investment being made by Aurigny via the facility but also the speed in which the transaction was completed, demonstrating Carey Olsen's ability to deliver the necessary level of legal guidance, insight and support in a very short, crucial timeframe."