Richard Walton is an of counsel in the London office of Gibson Dunn, and is a member of the firm’s Transportation and Space, and Finance Practice Groups.
Richard acts for transportation and asset financing banks, lessors, operators and public sector bodies on a wide variety of national and cross-border asset leasing, financing and procurement transactions. He has a particular focus on, and has developed significant expertise in, the aviation industry including asset portfolio sales, purchases and financings, finance and operating leasing and capital market transactions including ABSs and EETCs.
Prior to joining Gibson Dunn, Richard worked in the London office of another major law firm and has previously spent nine months seconded to the legal department of a major aircraft leasing company.
Richard’s experience includes advising*:
- Advised Citibank, Societe Generale, Royal Bank of Canada and NordLB as Lenders and arrangers in connection with a secured credit facility for up to $640,000,000 for TrueNoord for the financing of the acquisition of an initial portfolio of 10 identified aircraft, (including 4 ATR42-600 and 6 E2-195 aircraft), and further aircraft to be identified in the future;
- Advised Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC as placement agents for British Airways Plc in relation to a private placement EETC offering of approximately $299,569,000 sustainability-linked Notes for the financing of two Airbus A320neo aircraft and two Airbus A350-1000 aircraft;
- Advised SMBC AC in connection with the negotiation of leases for, and the deliveries of, two A321 LR aircraft to Air Transat;
- Advised Doric in connection with the US$587,500,000 Doric Nimrod Air Finance Alpha Limited 2012-1 Enhanced Equipment Trust Certificate offering, the first non-US EETC, with Goldman Sachs as underwriters and Emirates as lessee of four A380 aircraft;
- Advised Citibank as lead structuring agent and underwriters in connection with the US$926,982,000 British Airways 2013-1 Enhanced Equipment Trust Certificate offering, intended to finance BA’s purchase of 14 new aircraft;
- Advised Citibank and Goldman Sachs as structuring agents in connection with the US$328,274,000 2015-1 1 Enhanced Equipment Trust Certificate offering for Turkish Airlines, intended to finance Turkish Airlines’ purchase of three new aircraft;
- Advised a syndicate of lenders, led by BNP Paribas and Citi, on a US$740,000,000 secured credit agreement for the financing of a portfolio of up to 37 aircraft for a new joint venture leasing company;
- Advised a syndicate of lenders, led by Deutsche Bank, on a US$250,000,000 secured warehouse facility for an aircraft operating lessor;
- Advised a syndicate of lenders, led by Citi, on a US$395,000,000 secured term loan facility for an aircraft operating lessor;
- Advised the primary equity partner in its joint venture establish a new leasing company, and subsequently advising the leasing company on its US$475,000,000 secured credit agreement for the financing of a portfolio of up to 21 aircraft;
- Advised Magnetar on its investment in a leading aircraft leasing company;
- Advised a newly-formed aircraft leasing company on its acquisition of a portfolio of aircraft, financed under its warehouse and loan facilities;
- Advised on the structuring and creation of a joint venture company created to purchase a portfolio of aircraft engines from one of the joint venture parties, and on the subsequent sale and purchase;
- Advised a UK-based airline lessee on the sale and leaseback of four new 737 aircraft with Japanese lessors; and
- Advised the Department for Transport in connection with several procurement transactions, including the “Intercity Express Program”, for the procurement of a new fleet of high speed trains for the UK rail network, and its re-franchising of the Greater Western, Thameslink and South Western passenger rail franchises.
*Includes representations made by Richard prior to his association with Gibson Dunn.
Capabilities
Credentials
Education:
- Nottingham Trent University - 2001 Legal Practice Course
- University of Oxford - 2000 Juris Doctor
Admissions:
- England & Wales - Solicitor