UMB Leads $1.5 Billion Warehouse Facility for Griffin Global Asset Management

Palisade Aviation Holdings Warehouse, Ltd. and Palisade Aviation Holdings Warehouse, LLC, which were jointly established by Griffin Global Asset Management and funds managed by Bain Capital Creditsigned a transaction to modify, expand and increase the size of its senior secure warehouse, which now has a committed amount of $1.5 billion.

The initial facility had a capacity of $1 billion and was awarded Airline Economics Global Edition of the Year award for 2021. Among other features, the facility offers borrowers maximum flexibility to offer its airline partners a variety of financing solutions, ranging from operating leases to contracts from finance leases to direct loans on a range of asset types and ages. The facility also provides more flexibility over concentrations of certain airline exposures than a traditional warehouse, providing the joint venture with a tool to transition to long-term capital markets solutions. The facility has a term of 54 months as amended.

“We are extremely grateful for the continued support of our existing lending group and the partnership of our new lenders as the Griffin platform continues to grow. The expansion and expansion of the warehouse will provide us with additional capacity and flexibility to provide tailored capital solutions to our airline clients in this dynamic market,” said John Beekman, Chief Financial Officer of Griffin Global Asset Management. .

Goldman Sachs played the role of structuring agent of the installation, while UMB Bank acts as administrative agent and security trustee. As part of the amendment, extension and increase in size of the transaction, commitments for the facility have been provided by Goldman Sachs, Bank of America, Barclays Bank, Mizuho Americas, Morgan Stanley, PNC Bank, Wells Fargo Bank, Societe Generale and Deutsche Bank.

Hughes Hubbard & Reed acted as US counsel to Griffin Global Asset Management and the borrowers, Milbank acted as legal counsel to the lenders, Maples and Calder (Ireland) acted as Irish counsel to the borrowers, Maples and Calder (Cayman) acted as Cayman Islands legal adviser to the borrowers, A&L Goodbody acted as Irish legal adviser to Griffin Global Asset Management and PWC acted as Irish tax adviser to Griffin Global Asset Management and borrowers.

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