Doric Nimrod Air Launches Aircraft Fund In Guernsey

By Editorial 09 September, 2013

Doric Nimrod Air Three Limited has successfully launched an initial public offering on the Specialist Fund market of the London Stock Exchange, listed on the Channel Islands Stock Exchange.

The Guernsey-domiciled, closed-ended fund has a market capitalization of GBP220m which will be matched by debt financing to purchase four new Airbus A380 aircraft, according to a press release from Guernsey International Finance Center. The aircraft will be leased to Emirates on a 12-year term.

This transaction follows two successful aircraft funds, Doric Nimrod Air One and Doric Nimrod Air Two, also launched by Nimrod Capital and Doric.

Doric Nimrod Air Three Limited aims to provide shareholders with favorable returns including income from leasing the aircraft to Emirates and capital from their future sale.

Carey Olsen Corporate Partner Ben Morgan said: "Guernsey continues to be viewed as the jurisdiction of choice for London Stock Exchange listed investment companies and this particular launch was extremely interesting given the nature of the underlying investments."

Tags: Finance | Investment | Interest | Aviation | Investment Funds | Guernsey | Expats |


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