Air France mandates BNP Paribas for JOLCO financing

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Air France mandated BNP Paribas Asset Finance to arrange a Japanese Operating Lease with Call Option (JOLCO) financing covering a new Boeing 777-300ER aircraft.

BNP Paribas was mandated as lease arranger of a global transaction, which includes a Euro-dominated 12-year debt provided by BNP Paribas, Crédit Industriel et Commercial and Natixis Transport Finance as debt co-arrangers.

The aircraft, MSN 40376, is scheduled for delivery in May.

Air France approached financiers in February with a request for proposals (RFP) covering two Airbus A320s and one Boeing 777-300ER.

The carrier is taking delivery of a total of five A320s this year. Three aircraft, scheduled for delivery in April and May, are under operating leases from AerVenture. The remaining two aircraft are scheduled for March and June.

Air France is also taking one A380, MSN 67, next month under an operating lease contract through a KG financing structure arranged by Dr Peters Group.