Mourant du Feu & Jeune, an offshore law firm, has added Richard de Basto and Matthew Feargrieve to its Cayman funds and finance practice groups, respectively. De Basto joins from Allen & Overy, where he was a partner for close to eight years and concentrated on asset, construction and project finance. De Basto's current practice includes Islamic finance, restructuring and insolvency, leveraged finance, global loans, securitization and real estate finance. He will be based in Mourant's Cayman office. Feargrieve joins from Maples and Calder, where he was senior associate in the London office, advising on Cayman and BVI investment fund structures for hedge and private equity funds. Feargrieve has worked with onshore counsel in the U.S., E.U. and MENA on multi-jurisdictional transactions. He will be based in the firm's London office and will work alongside the Cayman-based funds team. Neal Lomax, partner and investment funds specialist, currently heads that team. In other people news, Mark Escott has moved from Lloyds TSB Bank after a nearly six-year stint as head of securitization to take up a similar position at The Bank of Tokyo-Mitsubishi UFJ, London Branch. In his new role at BTMU, Escott will cover client securitization deals in Europe, the Middle East and Africa. Mark will concentrate on growing the client securitization franchise using either the BTMU-sponsored conduit Albion or the bank's own balance sheet through direct origination and co-purchases.
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The aircraft assets will be prefunded, otherwise, the proceeds will refinance 15 vintage aircraft.
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Interest will be repaid sequentially. Scheduled principal will be paid based on the scheduled outstanding note balance for the applicable payment period and the note balances.
August 4 -
Lenders reported July declines of HECM endorsements and new securities issuances, but proprietary lending drove a 28% year-over-year surge in originations.
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The real-estate investment trust affiliate has been focusing on making more funding available for new loans but also seeks to hold the line on credit quality.
August 4 -
The group is planting a flag for a new structured finance platform and real estate finance team in Miami and is expected to also strengthen Benesch's New York presence with two partners.
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Notes are expected to pay coupons of 5.69% on the A1A notes and 5.89% on the A1B notes. Beyond that, the A2 and A3 notes pay coupons of 5.92% and 5.97%, respectively.
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