Burnham Sterling advises Hawaiian Airlines on Japanese financing of 6 Airbus aircraft

Burnham Sterling advises Hawaiian Airlines on Japanese financing of 6 Airbus aircraft
Burnham Sterling advises Hawaiian Airlines on Japanese financing of 6 Airbus aircraft

Burnham Sterling & Co. LLC today announced it acted as exclusive financial adviser and placement agent to Hawaiian Airlines for the Japanese yen (JPY)-denominated financing of four Airbus A330 and two A321neo aircraft.

โ€œBurnham Sterling helped us execute this very innovative financing with a fixed coupon well under 1.0%,โ€ said Shannon Okinaka, Chief Financial Officer at Hawaiian Airlines. โ€œThis financing solution has been a win-win for Hawaiian, as it serves the dual purpose of providing a natural hedge to our growing JPY revenues while lowering our all-in financing cost. Most importantly, we were introduced to eight new investors in the Japanese market by the Burnham team, which all took place in the transaction.โ€

โ€œThe success of this transaction was attributable to identifying first-time investors for Hawaiian, including Japanese regional banks, leasing and insurance company participants. We were especially pleased Hawaiian achieved Yen pricing below their swapped USD debt pricing,โ€ said Michael Dickey Morgan, Executive Managing Director at Burnham Sterling. โ€œThis follows our first successful JPY transaction we completed for Hawaiian last year. It was exciting to see our deep placement capabilities expand access and increase investor demand for Hawaiian.โ€

Burnham Sterling structured and placed the transaction with eight institutional investors in Japan, all of which were first-time investors in Hawaiian.

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