The Maples Group has acted as Cayman Islands and Irish counsel to Volofin and its affiliated issuers in connection with a US$446 million aviation loan asset-backed securitisation.
The deal, known as VFIN 2026-1, comprised the issuance of notes secured against a portfolio of 66 senior-secured aviation loans backed by 174 assets. The underlying portfolio spans 43 credit counterparties across 23 jurisdictions.
About $25m of residual interest notes were retained by Volofin, with the remaining proceeds deployed to acquire lender interests in 23 aviation loan facilities originated by the company.
A multi-jurisdictional legal team drawn from the Maples Group’s Dublin and Cayman Islands offices provided specialised legal and tax advice to Volofin and the issuers.
The group’s Irish fiduciary services division separately provided corporate service formation and administration, and continues to serve as the ongoing loan and issuer administrator, as well as supplying directors to the board.
The legal team was co-led by Andrew Quinn, global head of tax at Maples Group, Jonathon Meloy, Cayman Islands head of finance, Anthony Philp, Cayman Islands co-head of asset finance, and Dublin finance partner Joe O’Neill.
Tax consultant Ted O’Byrne, finance associate Sorcha O’Keefe and finance associate Rory Thomson provided supporting roles.
The Irish fiduciary services team was co-led by head of structured finance Julian Dunphy and senior vice president Jarlath Canning, with senior vice president Jennifer Cortez-Abaja and vice president Isabel Batoon providing additional support.
Arnold and Porter Kaye Scholer served as US counsel to Volofin and the issuers on the transaction, as it had on the group’s debut securitisation.
The latest deal follows the Maples Group’s involvement in Volofin’s inaugural aviation loan ABS, VFIN 2024-1, which closed in December 2024 at $538m.
That earlier transaction marked the beginning of an advisory relationship that has now extended to a second smaller issuance.
In a press release on 26 August, the Cayman Islands-headquartered firm said: “The Maples Group is uniquely placed to support fund investment and ABS products in aviation, having advised clients who are historically active in this space as well as newer sponsors and servicers.
“The group has the requisite capabilities and expertise, providing both Irish legal and tax and Cayman Islands support, as well as fiduciary, loan administration and managing agent services to our international clients.”
The Maples Group’s asset finance practice operates across 15 offices and advises more than half of all lessors active in the aircraft asset-backed securitisation market.
