BBAM and Nomura Babcock & Brown Participate in a $870 Million Combined EETC JOLCO Transaction with British Airways

SAN FRANCISCO, March 20, 2018 /PRNewswire/ -- BBAM Limited Partnership (BBAM) today announced its participation, alongside its long-term partner Nomura Babcock & Brown Co., Ltd. (NBB), in a $870 million transaction combining senior secured enhanced equipment trust certificates (EETC) and Japanese operating lease with call option (JOLCO) equity in relation to a number of new generation British Airways operated aircraft.

The transaction will provide financing for 11 aircraft, including two 787-8, two 787-9 and seven A320neo aircraft. The deal combines EETC and JOLCO structures, allowing the aircraft to be financed by the proceeds from the British Airways 2018-1 certificates and equity arranged by NBB.

"BBAM structured the JOLCO element of this transaction and we are delighted to further build on our strong relationships with British Airways and IAG," said Steve Zissis, Chairman and Chief Executive Officer of BBAM. "The combination of EETC and JOLCO equity is an innovative structure that we have helped develop to provide our clients with flexible financing solutions."

Citi was the sole structuring agent, global coordinator and joint bookrunner for the EETC deal.  Deutsche Bank and JP Morgan were the joint active EETC bookrunners and BBAM is the structuring agent for NBB and the JOLCO equity investors.

About BBAM

BBAM is the world's largest dedicated manager of investments in leased commercial jet aircraft providing over 200 airline customers in more than 50 countries with fleet and financing solutions over the last three decades. BBAM is the only manager in the aircraft leasing industry focused exclusively on generating investment returns for third-party investors. BBAM currently has more than 400 aircraft under management and employs over 120 professionals at its headquarters in San Francisco and in additional offices in New York, London, Tokyo, Singapore, Zurich, Dublin, and Santiago. BBAM has a 30 year partnership with NBB providing origination, management and remarketing for over 2,000 investors. For more information about BBAM, please visit its website at www.bbam.com.

For information about NBB, please visit its website at http://www.nbb.co.jp/nbb/english/.

For further information:

BBAM
Gavin Mercer
Senior Vice President
+353 1 231 1900
[email protected]

SOURCE BBAM Limited Partnership