Allen & Overy

Christian La-Roda Thomas

I am currently sitting with the International Structured & Asset Finance team within the Banking group. Our team is involved an array of domestic and cross-border financings that cover the ship, aviation and rail sectors. The team is also involved in the financing of nearly every other conceivable type of capital asset, including computer hardware and software, telecommunications equipment, vehicle fleets, medical equipment, films, power plants and manufacturing facilities. The team has also recently acted for a large UK corporate on the acquisition of a leasing company for tax liability restructuring purposes.

One of the transactions that I was involved in during my time in the department was an international aviation finance deal. We acted for a major international bank and Coface on the structuring of a large Export Credit Facility for the financing of an Airbus A330-200 aircraft to be put on lease to Avianca, a Colombian airline. The structure of the financing involved the creation of a specific purchase vehicle in the Cayman Islands; the purchase of the aircraft from the manufacturer; and transfer of rights and interests through a finance lease and an operating lease. Our clients interests were secured through the execution of a number of English law and New York law governed security documents, and the registration of these interests with amongst others the Federal Aviation Authority.

As a trainee I have been involved in cutting first drafts of security documents (involving a number of different jurisdictions including Colombia, Cayman Islands, New York) and assisting with the closing (where the parties coordinate the signing of all the documents).  I was involved in high quality legal work from the outset, but I was also privy to the transaction's evolution through involvement in the actual negotiation of commercial issues during multi party conference calls and meetings. This level of involvement really helped me to understand the context of the transaction, but perhaps more importantly the client's perspective.

The International Structured & Asset Finance team acts for a large number of the biggest banks, finance groups and operators in the world, and holds dear its reputation for excellence. This reputation is founded on the premise that every member of the team aspire to the highest standards of excellence. The work is often challenging and deadlines tight, however, with fantastic support available and a genuine open door policy, the satisfaction of closing a deal and the subsequent celebratory drinks are always in sight.