Stonepeak to partner with Bellinger to acquire performing aircraft loan portfolio
Funds managed by Stonepeak Infrastructure Partners (Stonepeak) have partnered with Bellinger Asset Management (Bellinger) to complete the acquisition of a US$1.1 billion performing aircraft loan portfolio from National Australia Bank. The portfolio comprises 27 loan facilities secured by 159 aircraft having a collateral valuation of US$1.4 billion. The weighted average remaining loan term of the portfolio is approximately 5.6 years and the underlying collateral comprises mostly new-generation aircraft with a weighted average age of approximately 4.6 years.
Funds managed by Stonepeak have committed US$500 million in further equity capital for future investment in partnership with Bellinger in the aviation platform. Stonepeak’s investment will be made through a combination of Stonepeak’s infrastructure-focused private equity and credit funds.
Allen & Overy LLP served as legal advisor on the transaction. Deutsche Bank Securities Inc. served as financial advisor on the transaction.
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