Dechert Advises Prime Capital AG on Capital Increase of Aircraft Financing Investment Platform

A team from Dechert LLP’s Munich, Luxembourg and London offices advised Prime Capital AG, an independent financial services and asset management firm, on the capital increase of an established investment platform for secured aircraft loans.

Pursuant to the innovative program, which was originally structured and closed in December 2013, a specialized securitization company in Luxembourg (the “Issuer”) operated and monitored by Prime Capital, invested in a portfolio of international secured aircraft financings. Following the successful initial US$250 million ramp-up of the program during 2014, the investors have now agreed to increase the program size to US$480 million. An international aviation bank, which works closely with Prime Capital, has been appointed by the Issuer to perform loan origination as well as on-going advisory and asset management services. Furthermore, the bank will co-invest in the Issuer alongside a leading German institutional investor for whom the program was specifically designed.

Prime Capital is an independent asset management firm that specializes in alternative investments in the equity and debt segment. The firm employs more than 45 people in Frankfurt, London and Luxembourg and is licensed to operate as an investment management corporation. The firm is regulated by the Federal Financial Supervisory Authority in Germany, the Financial Conduct Authority in the UK and the Commission de Surveillance du Secteur Financier in Luxembourg.

The Dechert team advised Prime Capital AG on the original set up of the program, the acquisition of the initial US$250 million portfolio of assets as well as the current capital increase to US$480 million. The transaction was lead by partners Hans Stamm (Munich) and Giles Belsey (London), in addition to partners Marc Seimetz (Luxembourg), Jean-Louis Frognet (Luxembourg) and associate James Beeson (London).

Read the release in German (PDF): "Dechert berät Prime Capital AG bei Strukturierung und Aufstockung einer Investmentplattform im Bereich Flugzeugkredite".

About Dechert

Dechert is a global specialist law firm with a deep bench of experts focused on sectors with the greatest complexities and highest regulatory demands. We deliver practical commercial insight and judgment to our clients' most important matters. Nothing stands in the way of giving clients the best of the firm’s entrepreneurial energy and seamless collaboration in a way that is distinctively Dechert.