Asset/Equipment Finance & Leasing

We provide strategic counsel in asset and equipment finance, helping clients structure complex lending and leasing transactions that unlock capital, manage risk, and drive growth.
Key Contacts
Beaudoin YannickBrennan PatrickRumball James
Airplane on runway

Overview

The sourcing of capital through asset securitization has grown exponentially in the last decade. Using creativity and intricate structures to create new asset classes and terms, lawyers and financial advisors are successfully implementing asset-backed lending to help companies survive and sponsors thrive.

Bennett Jones has been involved in asset-backed lending for well over a decade. Our specialized work with issuers, underwriters, investors, liquidity providers, credit enhancers, rating agencies and trustees includes developing asset classes, assisting with rating the respective products, and negotiating terms on collateral such as inventory, receivables, investment securities, intellectual property, equipment, title documents and real estate. We have acted on finance and leasing transactions involving aircraft, railcars, trucks, buses, mining equipment and heavy construction equipment and operating lease portfolio securitizations, commercial paper conduits, enhanced corporate credits, synthetic leases, and the packaging and repackaging of asset-backed debt. We leverage our understanding of the financial services market to provide strategic insight to this nuanced, highly complex area of lending.

Of particular note is our aircraft finance and leasing experience, which includes cross-border arrangements and some of the most complex arrangements in the aviation industry for Canada's major airlines.

Client Work

ME Global BV
on its $450-million senior debt financing with a syndicate led by Mizuho
Superior Coring Systems
in its purchase of Technicoil Corporation's Hybrid Drilling Rigs, and its financing of same
Jazz Aviation LP
with the financing of 15 Q400 Aircraft with Export Development Corporation
Jazz Aviation LP
with the subleases of six 757 aircraft and related engines as well as various maintenance relationships from Thomas Cook Aviation
Air Canada
in the sale/leaseback of three Bing 777-333ER Aircraft
Air Canada
with the sale/leaseback of three Bing 777-333ER aircraft for US$375 million
Air Canada
with the finance and purchase of one Embraer Model ERJ 190-100 IGW Aircraft
Air Canada
as lessee, with the novation and refinancing of one Bing 767-375ER Aircraft
Air Canada
with the finance and purchase of one Embraer Model ERJ 190-100 IGW Aircraft
Air Canada
with the finance and purchase of one Embraer Model ERJ 190-100 IGW Aircraft
Air Canada
with a novation of aircraft engine leases
Air Canada
with the Eximbank guaranteed financing of four Bing 777-300ER Aircraft and three Bing 777-200LR Aircraft
Air Canada
with the acquisition and financing of 18 EMB 190 aircraft
Air Canada
with the acquisition and financing of 15 EMB 175 aircraft with PK Air Finance
Air Canada and its affiliates
in respect of lease financing with Bombardier Capital Inc. of 15 CRJ 200 aircraft
Canadian Airlines
with the $1.8-billion bid by Onex to purchase Air Canada and Canadian Airlines and merge them into a single carrier
Air Canada and Air Canada Capital Limited
with the leases for six Dash 8-100 aircraft to Freedom Airlines
Air Canada and its affiliates
with lease financing with Bombardier Capital Inc. of 15 CRJ 705 aircraft
Air Canada and its affiliates
in connection with structured leases for five CRJ 705 aircraft
Air Canada and its affiliates
in respect of cross-border operating leases of two Bing 767 aircraft and eight CRJ 200 aircraft with GE Capital
Air Canada and its affiliates
in respect of structured leases for seven CRJ 200 aircraft
Air Canada and its affiliates
in respect of the novation of leases for 69 aircraft and 8 spare engines by GE Capital to various GE affiliates
Air Canada and its affiliates
with respect of securitization and leases of 18 CRJ 200 and CRJ 705 aircraft
Air Canada
with the refinancing of five CRJ100 aircraft with the Export Development Corporation
Air Canada
with the sublease of four A319 aircraft to Mexicana Airlines
Air Canada
with the subleases of its fleet of A340-300 aircraft to various international airlines
Air Canada
with purchase agreements with the Bing Company in connection with its acquisition of 18 Bing 777's and 14 787 Dreamliners
Jazz Air LP
in respect of operating subleases on 25 CRJ 100 aircraft
MILIT-AIR
with a $700-million private placement of debt securities in Canada and the United States of America to finance the acquisition of the assets of the NATO Flying Training Program
Air Canada
with the financing and acquisition of two Embraer Model ERJ 190 with GE Capital and Heleba
Jazz Air L.P.
with a lease of a DHC-8-300 Aircraft from Airplanes Finance Limited
Air Canada
with the sublease and supplemental security of one Airbus A340-300 Aircraft MSN 154, C-FYKZ to Swiss International Air Lines
Air Canada
with the sublease of one Airbus A340-300 Aircraft MSN 175, C-FYLG to Swiss International Air Lines
Air Canada
with the sublease of one Airbus A340-300 Aircraft MSN 179, C-FYLU to Swiss International Air Lines
NewAir & Tours, AirTran Airways and Aviation Capital Group
purchase and Sale/Leaseback of a Bing 737-700 aircraft
Air Canada
with an amended and restated lease of aircraft
Air Canada
with the novation of an amended and restated lease agreement of an aircraft
Air Canada
with several payouts of PDP loans for aircraft
Air Canada
with the acquisition and financing of four Embraer ERJ 190-100 IGW aircrafts
Air Canada
with its sublease of an Airbus A340-300 to Swiss International Air Lines
Air Canada
with its aircraft lease novation and amendment agreement between Deutsche Bank AG and Bank of Utah
Air Canada
with two Airbus A319-112 Aircraft sublease agreements with Skybus Airlines
Jazz Air LP
in its lease with Macquarie of a General Electric model CF34-8C5 engine
Air Canada
with the financing of two Bing 777-300ER Aircraft for Air Canada
Air Canada
with 100965 P.E.I. Inc.'s prepayment of certain loans related to the financing of a Bing 777-300ER Aircraft for Air Canada
Air Canada
with an omnibus agreement between GE Commercial Aviation Services Ltd. and Air Canada relating to lease extensions for 21 Airbus A320-200s and an Airbus A319-100, cross collateralization ...
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Air Canada
with its sale/leaseback of a Bing 777-333Er Aircraft
Air Canada
with its sale/leaseback of a Bing 777-333Er Aircraft
Air Canada
with its replacement of aircraft engines on two Canadair Regional Jet Model Aircraft
Air Canada
with sub-leases of aircrafts to Compania Mexicana de Aviacion S.A.
Air Canada
with a secured financing of an Embraer Model ERJ 190-100 IGW Aircraft
Air Canada
with the sublease between Air Canada, as sub-lessor, and Lan Airlines S.A., as sub-lessee, of one Airbus A340-300 Aircraft
Air Canada
as sub-lessor, and Compañia Mexicana de Aviación, S.A. de C.V., as sub-lessee, with the assignment and assumption of guarantees for four Airbus A319-100 Aircraft
Air Canada
with the secured financing of an Embraer Model ERJ 190-100 IGW Aircraft
Air Canada
with the secured financing of an Embraer Model ERJ 190-100 IGW Aircraft
Jazz Air LP
with the Short Form Lease Novation Agreement between MAAC Lessor Limited, as existing lessor, GPFC Ireland Limited, as new lessor, and Jazz Air LP, as lessee, relating to one DeHavilland DHC-8-301 Aircraft, Serial No. 137
Jazz Air LP
with the Short Form Lease Novation Agreement between MAAC Lessor Limited, as existing lessor, GPFC Ireland Limited, as new lessor, and Jazz Air LP, as lessee, relating to one DeHavilland DHC-8-301 Aircraft, Serial No. 149
Jazz Air LP
with the Short Form Lease Novation Agreement between MAAC Lessor Limited, as existing lessor, GPFC Ireland Limited, as new lessor, and Jazz Air LP, as lessee, relating to one DeHavilland DHC-8-301 Aircraft, Serial No. 143
Jazz Air LP
with the Short Form Lease Novation Agreement between MAAC Lessor Limited, as existing lessor, GPFC Ireland Limited, as new lessor, and Jazz Air LP, as lessee, relating to one DeHavilland DHC-8-301 Aircraft, Serial No. 131
Air Canada
with the amended and restated aircraft lease agreement, with Deutsche Bank AG, in respect of one Bing 767-375ER Aircraft
Air Canada
with a restructuring relating to six Bing 777-300ER aircraft and three Bing 777-200LR aircraft with Export-Import Bank of the United States and Citibank
Air Canada
with the acquisition and financing of an Embraer ERJ 190-100 IGW Aircraft
Air Canada
supplemental documents for loan facility for 15 Embraer ERJ 170-200 aircrafts
Air Canada
with its purchase of two Bing 777-200LR Aircraft and two Bing 777-300ER Aircraft
Air Canada
in an engine lease novation agreement with Celestial Aviation Trading 50 Limited and Wells Fargo Bank Northwest relating to a Pratt & Whitney PW4060 Aircraft engine
Air Canada
in an engine lease novation agreement with Celestial Aviation Trading 50 Limited and Wells Fargo Bank Northwest relating to a Pratt & Whitney PW4060 Aircraft engine
Air Canada
in an engine lease novation agreement with Celestial Aviation Trading 50 Limited and Wells Fargo Bank Northwest relating to a CFM56-5B3/P series Aircraft engine
Jazz Air LP
with the lease of one DHC-8-300 Aircraft from Airplanes Jetprop Finance
Air Canada
with an aircraft sublease agreement for one Airbus 340-500 Aircraft with Tam Linhas Aereas
Air Canada
with an aircraft sublease agreement for one Airbus 340-500 Aircraft with Tam Linhas Aereas
Air Canada
with the restructuring of the participation by Abacus Seven Limited in the lease financing arrangements relating to Airbus A330-300 Aircraft
Air Canada
with the restructuring of the participation by Abacus Eight Limited in the lease financing arrangements relating to Airbus A330-300 Aircraft
Air Canada
with the delivery and financing of aircraft
Air Canada
with the financing and pre-delivery payments for four Bing Model 777-200LR Aircraft and six Bing Model 777-300ER Aircraft
CIT Financial
with a $3.5-million secured loan for two Beech King Air B200 aircraft
CIT Financial
with the financing of two Cessna Caravan aircraft
Fairmont Hotels
with the purchase and sale of corporate jet aircraft

Recognitions

Canadian Legal Lexpert Directory
Most Frequently Recommended, Asset Equipment Finance/Leasing (Calgary)
Consistently Recommended, Asset Equipment Finance/Leasing (Toronto)
Your Guide to Legal Solutions: Asset/Equipment Finance & Leasing

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The Bennett Jones Story

At Bennett Jones, legal solutions are our starting point. What drives us forward is knowing our clients inside and out—their ambitions, obstacles and success metrics.

For more than a century, we have shaped outcomes that matter in business, in law and in the broader Canadian landscape. And our commitment extends beyond legal matters: we invest deeply in the communities in which we live and work.