Four Decades for Justice
Cravath represented the borrower, AerCap Ireland Capital Designated Activity Company, in connection with its $3.745 billion four‑year revolving credit facility arranged by Citibank, N.A., to be used for general corporate purposes. AerCap Ireland Capital Designated Activity Company is a wholly owned subsidiary of AerCap Holdings N.V., a leading aircraft leasing company. The transaction closed on February 15, 2017.
The Cravath team included partner Stephen M. Kessing and senior attorney Kimberly A. Grousset on banking matters; senior attorney Andrew Carlon and associate Debra M. Aboodi on tax matters; and associate Brian B. Kennedy on executive compensation and benefits matters. Benjamin T. Dye also worked on banking matters.
Deals & Cases
January 31, 2024
Cravath represented AerCap Ireland Capital Designated Activity Company and AerCap Global Aviation Trust in connection with their $1.5 billion registered senior notes offering. AerCap Ireland Capital Designated Activity Company and AerCap Global Aviation Trust are wholly owned subsidiaries of AerCap Holdings N.V., the global leader in aircraft leasing. The notes were listed on the Irish Stock Exchange. The transaction closed on January 11, 2024.
Deals & Cases
January 11, 2024
AerCap Holdings N.V, the world’s largest commercial aircraft leasing company, which Cravath is representing in connection with U.S. sanctions and export controls matters, has secured over $1.2 billion in related insurance recoveries involving Russian airlines’ refusal to return over 100 aircraft leased from AerCap following Russia’s invasion of Ukraine in February 2022. In September 2023, in the first announced insurance settlement of its kind, Cravath represented AerCap in obtaining authorizations from the U.S. Office of Foreign Assets Control (“OFAC”) and the U.S. Department of Commerce’s U.S. Bureau of Industry and Security (“BIS”) for an agreement to enable payment of approximately $645 million to AerCap to resolve claims against certain Russian insurers and airlines as to a substantial number of AerCap aircraft. Cravath also represented AerCap before BIS and OFAC in connection with AerCap’s subsequent, $572 million insurance settlements with Russian insurers and airlines announced in December 2023.
Deals & Cases
December 22, 2023
Cravath represented AerCap Ireland Capital Designated Activity Company and AerCap Global Aviation Trust in connection with their $1.5 billion private exchange offer for certain of their outstanding notes. AerCap Ireland Capital Designated Activity Company and AerCap Global Aviation Trust are wholly owned subsidiaries of AerCap Holdings N.V., the world's largest independent aircraft leasing company. The transaction closed on December 5, 2023.
Deals & Cases
November 30, 2023
Cravath represented AerCap Holdings N.V. in connection with its $2 billion registered secondary offering of ordinary shares by the selling shareholder GE Capital US Holdings, a wholly owned subsidiary of General Electric. AerCap Holdings N.V. is the world’s largest independent aircraft leasing company. The transaction closed on November 16, 2023.
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