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Intertrust further strengthens global aviation finance capabilities

9 January 2020

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Intertrust, a global leader in providing tech-enabled fund and corporate solutions to clients operating and investing in the international business environment, has expanded its presence in the fast-growing aviation finance sector with the acquisition of London-based Wells Fargo Trust Corporation Limited.

By virtue of this acquisition, Intertrust succeeds to Wells Fargo Trust Corporation Limited’s portfolio of trust and agency aviation engagements in place at the time of completion of the acquisition, which occurred on 13 December 2019.  As part of the acquisition, Intertrust changed the name of the company to Intertrust Trust Corporation Limited.  The acquisition will be integrated into Intertrust’s Capital Markets service line, led by Cliff Pearce.

The acquisition complements Intertrust’s existing Capital Markets trustee business by broadening its aviation finance client base, as the company expands its capabilities in preparation for the new Global Aircraft Trading System (GATS). The deal will also act as a springboard for Intertrust to expand its presence in this sector worldwide.  Intertrust already has a strong presence in the aviation finance sector; its dedicated team of experienced legal, accounting and tax professionals based in Ireland, Hong Kong, Singapore and Cayman services a wide range of holding companies, special purposes vehicles and operating/finance lease platforms which are engaged in all aspects of aviation finance and leasing across commercial aircraft, corporate jets, helicopters and engines.

Cliff Pearce, Global Head of Capital Markets, said: “We are delighted to announce the acquisition of Wells Fargo Trust Corporation Limited and its portfolio of aviation engagements. This transaction significantly strengthens our presence as one of the few global service providers in the aviation finance sector and underlines our wider strategy of pursuing selective and value-enhancing acquisitions to increase scale, complement our existing service offering, and enhance our global footprint and technological capabilities.”

“We have witnessed significant growth in the aviation sector over the last decade and conditions remain positive going forward; Asia-Pacific and China remain very buoyant markets due to higher levels of economic growth and a rising middle class with a greater appetite for travel. Macroeconomic conditions are increasingly pushing investors towards less volatile asset classes and aircraft leasing provides fixed incomes over long periods, offering investors predictable and consistent earnings.”

Intertrust’s experience with aviation finance structures include operating and finance leases, pre-delivery financing, export credit agency supported finance, lease-in/lease-out transactions, operating lease platforms with multi-jurisdictional SPVs and securitisations of aviation assets.