Jaeyong So

Experience

Aircraft Finance

• Representation of a global airline in its sale leaseback arrangements to finance 10 new Boeing 737 MAX and Airbus A321NEO aircraft with an international lessor.
• Representation of a global airline in its sale leaseback arrangements to finance 19 new Boeing 737 MAX and Airbus A321NEO aircraft with an international lessor.
• Representation of a global airline in a series of sale leaseback arrangements to finance 18 new Boeing 737 MAX and Airbus A321 aircraft with three separate leasing companies.
• Representation of a global airline in a series of mortgage financings to finance 8 new Boeing 737 -800, Boeing 787 and Embraer ERJ175 aircraft.
• Representation of a global airline in mortgage financings of four Embraer ERJ175 aircraft, and the leasing of those aircraft to a regional carrier.
• Representation of a global airline in mortgage financings of two Embraer ERJ175 aircraft and two Airbus A321 aircraft, and the leasing of the two Embraer ERJ175 aircraft to a regional carrier.
• Representation of a global airline in mortgage financings of two Boeing 737-800 aircraft and one Airbus A330-200 aircraft.
• Representation of a global airline in mortgage financings by Agência Especial de Financiamento Industrial – FINAME, a subsidiary of Banco Nacional de Desenvolvimento Econômico e Social, of more than 45 Embraer ERJ175 aircraft and the leasing of those aircraft to regional carriers.
• Representation of a global airline in mortgage financings by Export Development Canada of up to 54 Bombardier CRJ900 aircraft and the leasing of those aircraft to regional carriers.
• Representation of a global airline in a securities offering secured by a spare engine pool.
• Representation of a global airline in a securities offering security by aircraft spare parts pool.
• Representation of a global airline in its $1.9 billion term loan and $1 billion revolving credit facility secured by certain route authorities, slots and rights to use or occupy space in airport terminals that client uses to operate international passenger service between the United States and South America, including Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay and Venezuela, for which client won Airline Economics Aviation 100 “2014 Restructuring Deal of the Year” award.
• Representation of a global airline in its $1 billion offering of 7.50% senior notes due 2016 and secured by route authorities, airport landing and take-off slots, and rights to use or occupy airport terminals.
• Representation of a global airline in its innovative $450 million offering of notes secured by over 140 vintage aircraft, part of a series of financing transactions for which client won Airfinance Journal’s “2009 Editor’s Deal of the Year” award.
• Representation of a global airline in its Rule 144A $276 million offering of notes secured initially by cash collateral and subsequently by 12 Boeing aircraft.
• Representation of a global airline in arranging backstop financing for Boeing 737-800 aircraft.
• Representation of global airlines in more than 20 offerings of EETC pass through certificates, financing and refinancing in the aggregate more than 440 new and vintage aircraft and raising more than $13 billion in proceeds.

Fleet Transactions

• Representation of a global airline in its agreements with Airbus to purchase A220-300 aircraft.
• Representation of a global airline in its agreements with Embraer to purchase 60 ERJ175 regional jets with options to purchase up to 90 more.
• Representation of a global airline in its agreements with Bombardier to purchase 30 CRJ900 regional jets with options to purchase up to 40 more.
• Representation of a global airline in the aircraft financing aspects of the then largest aircraft order in aviation history, the acquisition of 460 narrowbody, single-aisle aircraft from Boeing and Airbus, with options for an additional 465 aircraft, which included approximately $13 billion of committed financing provided by the manufacturers.
• Representation of a global airline in establishing lease-in facilities, including pre-delivery configuration and maintenance agreements, for numerous vintage A319 aircraft from two international lessors.
• Representation of a global airline in leases of a number of vintage Embraer regional jet aircraft to Trans States Airlines, LLC in connection with regional aircraft flight services pursuant to a capacity purchase agreement.
• Representation of a global airline in leases of a number of vintage Embraer regional jet aircraft to ExpressJet Airlines, Inc. in connection with regional aircraft flight services pursuant to a capacity purchase agreement.
• Representation of a global airline in leases of 20 new ERJ175 aircraft to a regional carrier and related arrangements with the manufacturers in connection with regional aircraft flight services pursuant to a capacity purchase agreement.

Fleet Restructurings

• Representation of CHC Group, one of the largest global commercial helicopter service companies in the world, advising in its Chapter 11 proceedings in the U.S. Bankruptcy Court for the Northern District of Texas, in which the client restructured more than $2 billion in indebtedness.  This transaction was a joint winner of “Restructuring Deal of the Year (Over $1B to $5B)” at the 12th Annual M&A Advisor Turnaround Awards.
• Representation of American Airlines and AMR in Chapter 11 proceedings involving the restructuring of complex financing arrangements relating to more than 400 aircraft generating savings in excess of $1.8 billion and to the raising of more than $9 billion of new financing through various capital markets, syndicated lending and other financing transactions.
• Representation of American Airlines in its restructuring during its Chapter 11 proceeding of mortgage financings of 216 Embraer regional jet aircraft with the Brazilian export credit agency, Banco Nacional de Desenvolvimento Econômico e Social–BNDES, and Embraer.
• Representation of Delta Air Lines in its Chapter 11 proceedings, involving the refinancing of more than 275 aircraft via new debt or lease arrangements, the return or other disposition of more than 140 aircraft, the elimination of four aircraft types from client’s fleet and the litigation of substantial aircraft financing claim
• Representation of Delta Air Lines in its 2004 out-of-court restructuring of a large portion of its aircraft fleet financings.
• Representation of American Airlines in its 2003 out-of-court restructuring in which it reached agreements with more than 100 aircraft lessors, lenders, and other creditors on cost reductions exceeding $175 million a year and $1 billion over time.
• Representation of Crossair in a fleet acquisition program in connection with its conversion from a regional European carrier to SWISS, involving leases to SWISS of 54 aircraft formerly operated by Swissair.
• Representation of American Airlines in the 2001 complete restructuring of TWA’s aircraft fleet as part of American’s acquisition of assets from TWA. The restructured transactions included EETCs, operating leases, leveraged leases, two-tiered leases and engine leases and involved approximately 180 aircraft with a value of $3-$4 billion, more than 20 different lessors and dozens of lenders, trustees and other parties.