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2007 – a good year for EETCs
01 February 2008
The market might be going through uncertain times, but innovation remains high, as this year's Airfinance Journal Deals of the Year awards will testify.
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Two types of deals dominated the market in 2007: those that were lucky enough to close in a bullish market and those that came up against the fall out of the sub-prime collapse.
Apart from timing, each deal awarded this year is unique in its own right, which would explain the new categories. The expanded Deals of the Year awards show that, despite the poor market conditions, the market's capacity for innovation is high. This bodes well for a challenging market.
Overall Deal of the Year:?Continental Airlines EETC
Amount: $1.14 billion
Structure: EETC issuance
Joint Bookrunners: Morgan Stanley and Credit Suisse
Joint Structuring Agents: Morgan Stanley and Credit Suisse
Joint Lead Managers: Merrill Lynch, Citigroup and UBS
Lawyers: Milbank Tweed Hadley McCloy (for banks) & Hughes Hubbard & Reed (for Continental)
It is unusual for a passenger to have a message radioed through to the cockpit of an aircraft,...
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