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2008 Deals of the Year: Innovative and Overall
13 March 2009
The last of the 2008 Deals of the Year to be announced before the awards ceremony in New York: the Most Innovative and Overall winners.
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Deals of the Year
We have announced the 2008 Deals of the Year Awards each day this week, culminating today with the Most Innovating and Overall winners. The remaining winners will be announced at the awards dinner in New York, part of the 29th Annual New York Airfinance Conference being held on April 20 and 21.
Most Innovative Deal of the Year: AirAsia Islamic lease
Lessee: AirAsia
Assets: Eight A320-200s
Structure: Shariah-compliant French single investor Ijara
Closed: November 2008
Arranger: BNP Paribas and Natixis Transport Finance
Mandated lead arranger: Helaba
Ijara arranger: RHB Islamic Bank
Murabaha arranger: Bank Rakyat
Lawyers: Freshfields Bruckhaus Deringer (AirAsia), Norton Rose (arrangers), Wong & Partners (arrangers)
AirAisa’s Islamic French-Malaysian lease for eight A320-200s imaginatively blends Islamic financing with a tax lease structure.
“This is the first of its kind. It’s the first time a French optimized lease has been made Islamic-compliant,” says Nicolas Parrot, head of aviation finance group, Asia-Pacific, BNP Paribas. “The only way...
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