NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Wings Capital Partners LLC (“Wings”) announced the successful closing of a secured term loan collateralized by a 777-200LRF on lease to Korean Airlines. The three-tranche financing has a maturity coterminous with the lease tenor and was provided by a syndicate of financial institutions including Barings, Nord LB, Bayern LB, and Investec.
Jakob Gallagher, Treasurer at Wings, mentioned: “This financing is consistent with our strategic initiatives of diversifying sources of financing and managing asset liability. The tenor and structure provide both a long-term solution for this asset and additional flexibility as Wings continues to build out its balance sheet.”
About Wings Capital Partners
Wings is a private, full-service aircraft leasing platform based in Newport Beach, California, with offices in Dublin, Ireland and Singapore. Wings primarily invest in single-aisle, in-production commercial jet aircraft from new to 10 years of age on lease to airlines around the world. The Company has an owned, managed and committed portfolio of 65 aircraft worth over $2.5 billion.
Wings was formed in 2013 by R. Stephen Hannahs and is led by a highly experienced management team (an average 30 years of experience) with significant aviation leasing expertise and long-standing airline, OEM, lessor, banking, investor and legal relationships. Wings is owned by long-term investors Sightway Capital, LP and Corrum Capital Management, with the Wings management team holding a minority equity stake.
For more information, please visit wingscap.com