Spirit also announced it no longer intends to participate in the U.S. Treasury’s secured loan program under the CARES Act, given the successful completion of the company’s secured note offering which Spirit have stated now gives them one of the strongest and most liquid balance sheets in the industry.
Citigroup, Deutsche Bank Securities and Morgan Stanley joined Barclays as joint lead bookrunners for the deal.
In an innovative approach being taken in the aviation industry given the current challenges faced, the transaction is structured to be bankruptcy remote with the formation of Cayman Islands co-issuers and guarantors and involves a covenant structure which represents a hybrid between a securitisation and a corporate debt issuance.
Appleby was instructed by US law firm Milbank LLP and was led by Cayman Islands partners Benjamin Woolf and Caroline Barton with senior associate Alexandra Simpson also acting on the matter.
Appleby advises Wejo Group Limited on its entry into a business combination with TKB Critical Technologies I
Appleby is acting as Bermuda and Cayman Islands counsel to Nasdaq-listed Wejo Group Limited, a globa...
Appleby’s Hong Kong Office advises China Binary New Fintech Group on its Privatisation by way of Cayman Court Sanctioned Scheme of Arrangement
China Binary was listed on GEM of the Hong Kong stock exchange.
Appleby advises Lifezone Metals on its de-SPAC Business combination with NYSE-listed GoGreen Investments Corporation
Appleby has acted as Isle of Man and Cayman Islands counsel to Lifezone Metals, developer of cleaner...
Appleby advises Endurance Acquisition Corp. on its de-SPAC business combination with SatixFy Communications Ltd.
Appleby is pleased to have acted as Cayman Islands legal counsel to Endurance Acquisition Corp. (NAS...
Appleby advises Karate Combat – The First Professional Sports League to launch a DAO
Appleby’s Global Technology and Innovation Group has advised Karate Combat on its transition to a ...
Appleby advises Silver Crest Acquisition Corporation on successful completion of US$1.4 billion de-spac with Tims China
Appleby is pleased to have acted as Cayman Islands legal counsel to Silver Crest Acquisition Corpora...
Appleby’s Hong Kong office advises Graphex Group limited on its USD 11.7 million listing on the NYSE American LLC stock exchange market
On 26 August 2022, Graphex Group’s underwriters have exercised their over-allotment option to purc...
Appleby’s Hong Kong office advises Swang Chai Chuan Limited on its HKD135 million listing on the Main Board of the Hong Kong Stock Exchange
The Hong Kong office acted as Cayman Islands counsel.
Appleby’s Hong Kong office advises WEIli Holdings Limited on its HKD126 million listing on the Main Board of the Hong Kong Stock Exchange
WEIli is a PRC-based cigarette packaging paper manufacturer with research and development capabiliti...
Appleby advises Mega Genomics Limited on its HKD215 million listing on the main board of the Hong Kong Stock Exchange
Mega Genomics is a leading genetic testing platform company in China.