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Chinese deal with Indonesian airline takes off

Chinese deal with Indonesian airline takes off

A PRC-owned lessor will strike an aircraft leasing arrangement with an Indonesian airline following a successful refinancing deal.

Firms: King & Wood Mallesons (ING Bank); Holman Fenwick Willan (Bank of Communications Leasing); Allen & Overy (Garuda Airlines)

Deal: ING Bank (ING) has refinanced an acquisition of a wide body of aircraft for a PRC state-owned enterprise Bank of Communications Leasing.  

Value: Undisclosed

Area: Finance, M&A

Key players: The KWM team advising ING was led by counsel Tejaswi Nimmagadda (pictured) based in Hong Kong. He was assisted by Andrew Rajanayagam and Helen Shum.

KWM Beijing partner Wang Ning, associate Qianqian Huang and New York partner Tingting Tan advised on the PRC and New York legal aspects of the deal respectively.

Deal significance:

KWM said that it deployed a team to advise ING on the cross-border transaction in a “one-stop-shop service” to the client. Aspects of the deal required advice on English law, PRC law and New York law.

Hong Kong counsel Tejaswi Nimmagadda, who led the team advising ING on the deal, said that the firm had enjoyed a competitive position in the niche sector.

“KWM has a unique perspective of the PRC aviation financing and leasing landscape,” Mr Nimmagadda said.

“We were delighted to provide ING with streamlined support for this complex multi-jurisdiction transaction, which also involved managing the Irish law, French law and Indonesian law components,” he said.

Mr Nimmagadda is originally from Sydney and admitted as a solicitor in New South Wales.

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