Oman Brunei Aviation Leasing Company SAOC

07/06/2015

OBALC partners with McLarens Aviation for technical services

Oman Brunei Aviation Leasing Company SAOC (“OBALC”) and McLarens Aviation have entered into a comprehensive technical services contract that supports OBALC’s business platform and growth as an aircraft lessor. McLarens Aviation will provide a range of services including aircraft inspections, technical monitoring and professional advice on the technical aspects of OBALC’s investments and transaction documentation.
Simon McLean, OBALC’s CEO, commented “the principals at OBALC have a long history with and experience of McLarens Aviation and we are delighted to partner again with the McLarens team to provide our investor and airline clients with a full-service product”.
Nick Payne, Executive Director, Risk and Asset Management of McLarens Aviation, comments “we recently celebrated our 50th year of trading at McLarens Aviation, which is testament to the industry leading services delivered by our dedicated team. We are extremely pleased to welcome OBALC as a client, who will be provided access to a wide range of on-demand technical asset management services to support the future growth of their aircraft portfolio”.
OBALC is Oman’s very first aircraft leasing company, specialising in the provision of tailored leasing, investment, asset management and remarketing solutions to leading airlines globally and investors. OBALC is owned by Oman Brunei Investment Company and the State General Reserve Fund of the Sultanate of Oman.
McLarens Aviation is the leading provider of claims, risk and asset management services to the global aviation industry, handling over 3000 assignments a year via a network of 31 offices world wide. The Risk and Asset Management team provides an integrated range of technical services that spans operator risk assessments to managing large portfolios of aircraft. With over 130 full time aviation surveyors, technical experts and support staff, this global network of industry specialists delivers an unparalleled service to the aviation industry. For more information on McLarens Aviation please visit www.mclarensaviation.com

01/06/2015

20th of May 2015

Oman Brunei Aviation Leasing Company SAOC (“OBALC”) has sourced, negotiated and closed a financing facility with Arab Banking Corporation (B.S.C.) (“ABC”) for the purchase of two new B737-900ER aircraft leased to Oman Air.

Simon McLean, OBALC’s CEO, commented: “for our second transaction with Oman Air we selected ABC as our financing partner, giving us the ability to confidently and expeditiously provide the client, Oman Air, with a competitive leasing solution for two aircraft.”

He added that “ABC did a great job of accommodating a timescale of less than a month from the date we received the airline’s sale & leaseback mandate to the first aircraft delivery and, in doing so, they fully justified the confidence and trust we had placed in them.”

Jeremy Dixon, First Vice President, Project & Structured Finance at ABC, commented: “ABC is very proud to have successfully closed this transaction with OBALC. As a leading provider of project & structured finance solutions in the MENA region, we are pleased to be able to support the development of Oman’s first aircraft leasing company.”

OBALC is Oman’s first aircraft leasing company, specialising in the provision of tailored leasing, investment, asset management and remarketing solutions to leading airlines globally and investors. OBALC is owned by Oman Brunei Investment Company and the State General Reserve Fund of the Sultanate of Oman.

ABC is a leading international bank in the MENA region. Headquartered in Bahrain, it provides innovative wholesale financial products and services that include corporate banking, trade finance, project and structured finance, syndications, treasury products and Islamic banking. It also provides retail banking services through its network of retail banks in the region.

01/06/2015

20th of May 2015

Oman Brunei Aviation Leasing Company (OBALC) was mandated by Oman Air, the national airline of the Sultanate of Oman, to provide three new Boeing B737-900ER aircraft on long-term lease. The aircraft were previously ordered by the airline and the first delivery was completed 20th May 2015, the second is scheduled for 27th May and the third is in November 2015.

Simon McLean, OBALC’s CEO, commented “in our inaugural transaction with Oman Air last year, we clearly demonstrated our ability to deliver a competitive solution in a short timescale, so we were delighted to be mandated again by Oman Air for the provision of three further new B737-900ER aircraft, taking us to a total of five B737 aircraft by the end of 2015”. He added, “Oman Air remains a cornerstone client for OBALC and we look forward to supporting the airline in the years to come”.

Simon further commented “OBALC’s shareholders continue with their plan to launch an aviation leasing fund in the Muscat capital market this year and the Oman Air transactions, which are to be the first products acquired by the fund, providing prospective investors with clear visibility on what their money is going to be invested in”.

OBALC is Oman’s very first aircraft leasing company, specializing in the provision of tailored leasing, sales, asset management and remarketing solutions to leading airlines and investors. OBALC is owned by Oman Brunei Investment Company and the State General Reserve Fund of the Sultanate of Oman.

01/06/2015

8th of April 2015

Oman Brunei Aviation Leasing Company SAOC (“OBALC”) has sourced, negotiated and closed a financing facility with DVB Bank SE (“DVB”) for the purchase of two new B737-900ER aircraft leased to Oman Air.

Simon McLean, OBALC’s CEO, commented “For our critically important inaugural transaction we selected DVB as much for their professionalism and confident ability to complete in a short timeline, as for their well-structured and cost effective financing facility. DVB’s pragmatic approach, enabled by their deep knowledge of the business and confidence in OBALC, made it possible to deliver the aircraft to Oman Air on time and on budget. The client was very pleased”. He added “OBALC was formed to create value within Oman’s economy by introducing new investment opportunities in aviation finance and aircraft leasing to institutional investors in Oman and the region and, in this case, we were also able to support Oman’s national carrier”.

David Goring Thomas, Managing Director, Aviation, DVB, said “We were delighted to have the opportunity to support OBALC on this first – landmark – transaction in aviation leasing. OBALC’s thorough yet practical approach enabled for a smooth process as well as their willingness to engage in open, collaborative dialogue, despite the many decisions that needed to be made in a quick time-frame. We look forward to building our successful partnership”.

OBALC is Oman’s very first aircraft leasing and fund management company, specialising in the provision of tailored leasing, investment, asset management and remarketing solutions to leading airlines globally and investors. OBALC is owned by Oman Brunei Investment Company and the State General Reserve Fund of the Sultanate of Oman.

DVB Bank SE, headquartered in Frankfurt/Main, Germany, is the leading specialist in the international transport finance business. The Bank offers integrated financing solutions and advisory services in respect of Shipping Finance, Aviation Finance, Offshore Finance and Land Transport Finance. DVB is present at all key international financial centres and transport hubs: at its Frankfurt/Main head office, as well as various European locations (Athens, Bergen, Hamburg, London, Oslo, Rotterdam and Zurich), plus offices in the Americas (New York City and Curaçao) and in Asia (Singapore and Tokyo). DVB Bank SE is listed at the Frankfurt Stock Exchange (ISIN: DE0008045501). More information is available on www.dvbbank.com.

01/06/2015

18th of March 2015

OBALC completes leasing transaction with Oman Air for two new B737-900ER aircraft.

Oman Brunei Aviation Leasing Company (OBALC) completed its inaugural transaction with Oman Air, the national airline of the Sultanate of Oman, for the long-term lease of two new Boeing B737-900ER aircraft previously ordered by the airline. First delivery was made on the 12th November 2014 and the second on 16th March 2015.

Simon McLean, OBALC’s CEO, commented, “We were delighted to be mandated by Oman Air for our first transaction, and feel proud to have been able to fully satisfy our clients’ expectations of timely delivery. Oman Air showed great confidence and trust in our ability to close the deal and all the stakeholders worked hard together to complete a successful delivery”. He further added, “Oman Air is a cornerstone client for OBALC and we look forward to supporting the airline for the years to come”.

OBALC is Oman’s very first aircraft leasing and aviation fund Management Company, specializing in the provision of tailored leasing, sales, asset management and remarketing solutions to leading airlines and investors. OBALC is owned by Oman Brunei Investment Company and the State General Reserve Fund of the Sultanate of Oman.

01/06/2015

5th of March 2015

Oman Brunei Aviation Leasing Company (OBALC) announced the appointment of Simon McLean as Chief Executive Officer (CEO) of OBALC with immediate effect.

Simon has more than 25 years of global experience in aviation, financial services, and banking industries and has been involved in the closing of aircraft related transactions, including operating leases, structured finance, finance leases and joint ventures, with an aggregate value in excess of US$5BN. Previously he served as Chief Operating Officer of Waha Leasing PJSC and as a member of Waha Capital’s Investment Committee and Management Committee. Prior to joining Waha, he was Vice President, Aerospace for New court Capital and he has also held positions in Chemical Bank and Barclays Bank. Simon graduated with an MBA from the University of Leicester.

Commenting on his appointment, Simon said “I am delighted to join OBALC as CEO at this critical phase of establishment and growth. I look forward to leading and contributing to the success of the company, working alongside the company’s Board of Directors, the OBALC team, and in partnership with investors, lenders and clients”. He added “OBALC benefits from strong financial and strategic support from its shareholders who have shown true vision with their entry into and growth plans for the aircraft leasing sector”, and “this year we plan to launch an aviation fund in Oman and, subsequently, to build a significant portfolio of owned and managed aircraft subject to lease”.

OBALC is Oman’s very first aircraft leasing and aviation fund Management Company, specializing in the provision of tailored leasing, sales, asset management and remarketing solutions to leading airlines and investors. OBALC is owned by Oman Brunei Investment Company and the State General Reserve Fund of the Sultanate of Oman.

01/06/2015

31st of December 2014

SGRF and OBIC join forces in new aviation leasing venture

The Sultanate of Oman’s State General Reserve Fund (SGRF) and Oman Brunei Investment Company (OBIC) have announced an alliance to set up Oman Brunei Aviation Leasing Company (OBALC) with an authorized capital of RO 200 million.

Commenting on this strategic partnership, H.E. Abdulsalam Al Murshidi, Executive President of SGRF said, “As Chairman of Oman Brunei Investment Company, I am very proud of this promising investment as it represents a stepping stone towards the continued efforts to diversify Oman’s economy”. “SGRF has always strived to support such initiatives presented from joint venture companies,” he added.

Abeer Mohammed Al Abduwani, OBIC’s CEO, talked about the new joint venture saying, “After we came up with the business plan for an aviation leasing company, we looked for a strong founding and strategic business partnership and accomplished both by having SGRF as a founding-partner.

The newly formed venture will invest in and manage the purchase and lease of modern and fuel-efficient commercial aircraft operated by airlines in the Middle-East and globally. Abeer Mohammad Al Abduwani commented “Aircraft leasing represents an attractive investment product and in due course we will be offering institutional investors the opportunity to participate in the sector through an aviation leasing fund”.

Oman Brunei Investment Company SAOC is a private equity company jointly capitalized by State General Reserve Fund of Oman (50%) and the Brunei Investment Agency (50%). The company has been created to promote financial and economic benefits to Oman, GCC and Brunei. The company undertakes investments in Aviation Finance, Infrastructure, Transportation, Education, Food, Healthcare, Manufacturing and Oil and Gas by targeting attractive private equity investments in medium sized - businesses that offer opportunities for growth and value creation. OBIC’s focus is on acquiring strategic stakes in new projects and existing operating companies; through direct participation and joint venture investments which cater to building a diversified portfolio across the vital sectors of the economy and industries.

State General Reserve Fund (SGRF) was established in 1980 by a Royal Decree 1/80. It endeavors to achieve long term sustainable returns on the revenues generated from the oil and gas, and that are surplus to the state's budgetary requirements. On behalf of the Government of Oman, SGRF manages the reserves placed in its care to achieve best possible long term returns with acceptable risks, through investing in a diversified portfolio of asset classes in more than 25 countries worldwide. SGRF is regulated and supervised by the Financial Affairs and Energy Resources Council (FAERC).

Oman Brunei Aviation Leasing Company SAOC - OBALC

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