Akin Advises Bain Capital Credit in Griffin Global Asset Management’s Acquisition of Rolls-Royce Spare Engines
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(New York) – Akin advised Bain Capital Credit, LP, a leading global credit specialist, in connection with the acquisition of a portfolio of 17 aircraft engines from Rolls-Royce PLC valued at more than $450 million by its aviation platform Griffin Global Asset Management. Certain funds managed or advised by Bain Capital Credit, LP provided substantially all of the equity capital required to fund the transaction. The engines are owned by a newly formed standalone entity and will be enrolled in Rolls-Royce’s TotalCare program and leased to various operators that utilize Rolls-Royce engines in their active fleet of aircraft.
The transaction demonstrates Griffin and Bain Capital’s ability to provide bespoke solutions to airlines, original equipment manufacturers, and others across the industry.
The Akin team was led by special situations & private credit co-leader Ranesh Ramanathan, special situations associates Nate Sherman and Henry Spalding and special situations counsel Alex Cushman, with assistance from tax partner Ryan Dahan and senior counsel Kevin Rowe, litigation partner Richard Hornshaw, debt finance partner Josh Peary and associate Allison McTague.
More details on the transaction can be found here.
Akin is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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