Kuwaiti aircraft leasing company ALAFCO returned to the US Export-Import Bank (Ex-Im) bond market at the end of July with a $162 million transaction, according to sources.
The leasing company issued the 12-year bond through a vehicle, Osprey Aircraft Leasing. The bond priced at a 2.637% coupon equivalent to mid-swap spreads plus 59 basis points.
Deutsche Bank was the bookrunner and underwriter in the transaction, sources indicate.
The bond refinanced a new Boeing 777-300ER delivery that was acquired under a purchase and leaseback agreement with Garuda Indonesia.
The aircraft (MSN 40075), which delivered in July, is part of a two-aircraft deal.
It follows (MSN 40074) which was refinanced under a similar bond earlier in July.