Carey Olsen has advised Doric Nimrod Air Three Limited on its successful initial public offering on the Specialist Fund Market of the London Stock Exchange and listing on the Channel Islands Stock Exchange.
The Guernsey-domiciled, closed-ended fund has a market capitalisation of £220 million which will be matched by debt financing to purchase four new Airbus A380 aircraft. The aircraft will be leased to Emirates on a 12-year term.
Carey Olsen corporate partner, Ben Morgan, led the team and was supported by associates John Scanlan and Alex Wilson. This transaction follows two successful aircraft funds, Doric Nimrod Air One and Doric Nimrod Air Two, also launched by Nimrod Capital and Doric.
Doric Nimrod Air Three Limited aims to provide shareholders with favourable returns including income from leasing the aircraft to Emirates and capital from their future sale.
Advocate Morgan said: “Guernsey continues to be viewed as the jurisdiction of choice for London Stock Exchange listed investment companies and this particular launch was extremely interesting given the nature of the underlying investments.”
Category: Finance & Business