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Trowers & Hamlins advises on new aircraft leasing company’s first transaction

Trowers & Hamlins advises on new aircraft leasing company’s first transaction

Trowers & Hamlins is pleased to have advised new aircraft leasing company, Oman Brunei Aviation Leasing Company (OBALC), based in Muscat, on its first transaction.

The company’s first transaction is a two 737-900 leasing deal with Oman Air.  The first aircraft in the deal was delivered to the Omani flag carrier in 2014 on a ten-year sale-leaseback agreement through a special purpose company (SPC) based in the Isle of Man called OBIC Leasing 1 Limited.  The second 737-900 is due for delivery in March 2015 on the same terms and will be leased through Isle of Man SPC OBIC Leasing 2 Limited.

OBALC is a joint venture between The Sultanate of Oman’s State General Reserve Fund (SGRF) and private equity firm Oman Brunei Investment Company (OBIC). 

Banking and Finance partner Roger Clarke led on the deal.