Active Participants
There is a high degree of change among JOL participants at any one time.
Lessees: There are approximately 15 lessees in the market at any one time seeking Japanese lease equity on aircraft deals and another 15 lessees thinking about tapping the market.
Senior Lenders: There are approximately 20 active on-shore lenders at any time.
Japanese Equity and Equity Arrangers: There are approximately 25 active arrangers at any time, and some of them work with Lessee Advisors to identify potential new lessees coming to market. Lessees may know some equity arrangers or use a lessee advisor to conduct a competitive bid.
Lessee Advisor/Lease Arrangers: The lease arranger is typically an international boutique investment bank (mainly in the US) that works on behalf of the lessee. Babcock & Brown was the major player but they stopped conducting business in 2010. There are currently about 3 – 5 active lessee advisors/lease arrangers. Lessees can contact them to ask for a bid to help with a JOL.
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