AFC increases Synergy's A330 PDP funding to $294m

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Aviation Finance (AFC) has completed a follow-on financing for the Synergy Group, the majority owner of Avianca, increasing its existing pre-delivery payment (PDP) facility to $294 million.

The facility will help fund Airbus A330 orders for the Latin American airline group.

AFC last year launched the first ever multi-tranche capital markets PDP financing for eight Airbus A330s for Synergy. The $263 million facility, which was rated for insurance investors, closed in June.