in Business & Finance

Kenya Airways Limited advised on financial restructuring

Posted 23 November 2017 · Add Comment

Global law firm White & Case has advised Kenya Airways Limited on its US$2 billion financial restructuring.

Key features of the restructuring include a reprofiling of payments owed to operating and finance lessors, a conversion of debts into newly issued equity in the company and the provision of a new multi-purpose facility from Kenyan banks. Following the transaction, Kenya Airways has been repositioned for long term growth and is around 90 percent owned by the Government of the Republic of Kenya and a group of 11 local banks.

“Our cross-practice team advised on a significant and multi-faceted transaction involving multiple jurisdictions that ultimately required the agreement of creditors, shareholders, the Kenyan government and other key stakeholders to the business,” said London-based White & Case partner Christian Pilkington, who led the Firm’s deal team. “The leadership and participation of US EXIM Bank was also instrumental to the success of the restructuring.”

“White & Case delivered the combined strength of its experience in African restructurings and aviation finance to successfully execute a complex transaction that ensures the stability of a strategically important national transport resource,” said London-based White & Case partner Justin Benson.

* required field

Post a comment

Other Stories
Advertisement
Latest News

Garmin introduces the GFC 600H helicopter flight control system

Garmin has launched the GFCTM 600H flight control system for helicopter owners and operators – a breakthrough in cost-effective technology that reduces pilot workload and improves mission effectiveness.

IATA: Sub-Saharan Africa continued to make strong progress on safety

The International Air Transport Association (IATA) released data for the 2017 safety performance of the commercial airline industry showing continued strong improvements in safety.

Ethiopian becomes Africa’s first A350 full-flight simulator operator

Ethiopian Airlines has achieved yet another milestone, becoming the first A350 XWB Simulator Operator in Africa and among the few in the world.

Swaziland seeks to diversify network through subsidised ops

Following the collapse of the Swazi Airways venture before it ever even launched flights, the Swazi government is now courting South African carriers over their interest in connecting Manzini King Mswati III Int'l to various cities

Algerian minister confirms bids submitted re cargo market tender

Algerian Minister of Public Works and Transport, Abdelghani Zaalane, has confirmed that four bids have been submitted to government regarding the proposed liberalisation of the country's air cargo market, reports ch-aviation.

AHRLAC based Bronco II launched

The newly created company Bronco Combat Systems (BCS) USA, announced today the launch of the Bronco II aircraft, which is based on Paramount Group's AHRLAC aircraft (Advanced High-Performance Reconnaissance Light Aircraft).

Aviation Africa SK18418
See us at
Global Aerospace BT010518Aviation Africa BT18418