ABSA Bank Limited and African Export–Import Bank’s TAAG Financing

Walkers have acted as Cayman Islands counsel in connection with the financing by ABSA Bank Limited and African Export – Import Bank of six De Havilland Dash 8-400 aircraft to TAAG Angola Airlines. Pillsbury Winthrop Shaw Pittman LLP acted for the lenders and Norton Rose Fulbright acted for TAAG.

The first aircraft in this order was delivered to TAAG in June 2020 and the deal is supported by a sovereign guarantee issued by the Government of Angola.

It is understood to be the first new aircraft type delivered by any commercial aircraft manufacturer to a new customer during the COVID-19 pandemic.

The Walkers team was led by Cayman Islands senior counsel Sarah Humpleby (Picture) and associate Arleth Ebanks.

Involved fees earner: Arleth Ebanks – Walkers Global; Sarah Humpleby – Walkers Global;

Law Firms: Walkers Global;

Clients: Absa Bank Limited; African Export-Import Bank;

Author: Ambrogio Visconti.