Chadbourne & Parke Represents Société Générale in Uzbekistan Airways Financing Deal for Two Boeing 767-300ER Wide-Body Jets
Chadbourne & Parke is representing Société Générale in an airline lease-financing transaction for two Boeing 767-300ER wide-bodied aircraft and related spare parts and fees. The purchase financing of the aircraft by a special purpose leasing company based in Bermuda is partially guaranteed by the Export-Import Bank of the United States.
The borrower will lease both aircraft to Uzbekistan Airways.
The first aircraft is being delivered after closing of the financing for that plane on Oct. 3. The second aircraft is expected to be delivered in November 2004. Uzbekistan Airways flies to destinations around the world from its base in Tashkent, Uzbekistan, in Central Asia.
The total principal amount of the financing is US $181 million, of which approximately $89.3 million is attributable to the first aircraft and associated spare parts and fees. The financing package for the second plane and spare parts, expected to total approximately $92 million, is contingent upon the Export-Import Bank of the United States granting approval for its guarantee relating to that aircraft.
Lawyers for Chadbourne & Parke in the deal are partner Nabil Khodadad and associate Stefan Unna, both of the firm’s London office, and Jamol Askarov, an associate in the firm’s Tashkent office. They have been working with Société Générale’s export finance group in their New York, Paris and Tashkent offices.