Burnham Sterling Advises Hawaiian Airlines on Japanese Yen Financing of Two Airbus A321neo Aircraft

GREENWICH, Connecticut, July 30, 2018 – Burnham Sterling & Co. LLC (Burnham Sterling), a financial advisory firm specializing in large asset financing, today announced it acted as exclusive financial advisor to Hawaiian Airlines (NASDAQ: HA) for the Japanese yen (JPY)-denominated financings of two Airbus A321neo aircraft. The transactions are Hawaiian’s first-ever JPY financings.

“The Burnham Sterling team helped us develop and execute this successful, low-cost financing,” said Shannon Okinaka, Chief Financial Officer at Hawaiian Airlines. “For these aircraft, we wanted a financing solution that served the dual purpose of providing a natural hedge to our growing JPY revenues and lowering our financing cost, and we achieved a fixed, 12-year coupon of approximately 1.0%. We were very pleased with Burnham’s JPY-investor placement capabilities and their valuable help simplifying our first foreign currency transaction.”

“We knew we could achieve good execution for this transaction due to our strong relationships, especially in the Japanese market,” said Michael Dickey Morgan, Executive Managing Director at Burnham Sterling. “After introducing the Hawaiian story to many Japanese financial institutions, we were able to close two transactions that exceeded even our high expectations.”

Burnham Sterling structured and placed the transaction with two institutional investors in Japan.