Ogier has assisted long-standing client Wizz Air with its successful application to the Bank of England’s Covid-19 financing facility which has enabled it to strengthen its balance sheet and liquidity during the ongoing Covid-19 pandemic.
Wizz Air Holdings Plc is the largest low-cost Central and Eastern European airline connecting 154 destinations across 45 countries and carrying 40 million passengers in the past 12 months.
The Ogier team advised on the Jersey aspects of the application to be an eligible issuer under the Bank of England’s corporate financing facility which has strengthened the businesses cash flow through the sale of short term debt in the form of commercial notes.
Partner Raulin Amy lead the team, which worked alongside UK law firm Dentons, and was supported by Oliver Richardson and Hugo Reid. Freshfields Bruckhaus Deringer acted as UK legal counsel for Barclays.
Raulin said: “Our team have been responding to a number of inquiries in this area in recent weeks and I am really pleased that in each case we’ve been well-placed to use our knowledge and expertise to assist clients such as Wizz to maintain and strengthen their position.”