10 January 2018

KWM advises Comsys on A380 acquisition and refinancing

King & Wood Mallesons (KWM) advised Comsys Financial Leasing (Comsys) on its acquisition and finance leasing of an A380 aircraft to Mauritius-based operating lessor, Veling Group (Veling), with a 12 year operating lease attached to Emirates. Comsys financed its acquisition of the aircraft with a secured loan from a PRC policy bank.

The KWM team was lead drafting counsel on the finance leasing transaction as well as on the secured loan transaction.

Commenting on the transaction, KWM Hong Kong asset finance specialist, Tejaswi Nimmagadda commented: “KWM is delighted to have supported Comsys and the parties involved to a successful outcome on this highly complex cross border transaction. The transaction required us to draw on our deep local understanding of the PRC, long term industry relationships as well as our aviation financing and leasing transactional experience internationally to cut through a variety of commercial, cultural and regulatory complexities.”

The KWM team was led by Tejaswi Nimmagadda with assistance from registered foreign lawyer Nai Kwok. The KWM Beijing team was also involved in the transaction as special PRC law counsel.

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