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ELF sells 28 engines to GSI for $157 million
01 December 2007
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ELF
engines
GSI
GE
CFM
Rolls-Royce
Engine Lease Finance Corporation (ELF), the Shannon-based lessor, has completed the sale of 28 engines to German investment fund GSI using an innovative trust structure. The deal is worth $157 million and consists of a mixed portfolio of GE, CFM and Rolls-Royce engines, which are leased to airlines and maintenance repair facilities.
Law firm Paul, Hastings, Janofsky & Walker advised ELF, while German banks KfW IPEX-Bank and NordLB are financing the deal. The trust structure involved ELF and subsidiary Aviation Lease Finance declaring trusts in favour of GSI...
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