Hughes Hubbard Advises Griffin Global Asset Management on Closing of Inaugural $1.245 Billion Series into the Mid-Life Aircraft Master Trust Platform

Hughes Hubbard advised Griffin Global Asset Management, and GGAM Master Trust International, Ltd. and GGAM Master Trust US LLC (collectively, “GGAM Master Trust”), newly established special purpose companies comprising Griffin’s Midlife Aircraft Master Trust Platform, on the closing of the inaugural issuance of $1.245 billion of Fixed Rate Notes (the “Series 2025-1 Notes”).

The Series 2025-1 Notes were comprised of $1.12 billion of Class A Fixed Rate Notes and $125 million of Class Y Fixed Rate Notes. The initial portfolio to be acquired by GGAM Master Trust using the proceeds of Series 2025-1 Notes have an initial appraised value of $1.44 billion. The E-Notes to be issued by GGAM Master Trust were acquired by funds managed or advised by Bain Capital, Griffin and or their affiliates.

The initial aircraft portfolio comprises a mix of 25 narrowbody and widebody aircraft that have a weighted average age of 4.1 years and are on lease to 19 airlines in 15 countries. Griffin will act as a servicer with respect to the initial portfolio and any additional aircraft acquired by GGAM Master Trust.

The team was led by Steven Chung, Terry Sanders and Alan Kravitz with significant contributions from Andrew Fowler, Sean Murphy, Justin Cohen, Jenny Graham, David Cohen, Michael Carroll, Olivia Rose, Pete Shaker and Justine Yoon.

Andrew Braiterman, Michael DeBernardis, Steven Greene, Patrice Jean, Charles Wachsstock, Dev Ghose, Sean Reilly, Carol Remy, Anthony Kasper, Katherine Taylor, Ann Green, Rachael Moller, Kathyann Saunders and Alexandra Hernandez also made valuable contributions.

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