Avianca mandates ATR 72 financing to BNP Paribas

This story is sourced from

Avianca Holdings has mandated BNP Paribas to arrange a Coface guaranteed financing of seven new ATR 72-600 aircraft delivering through 2014.

The transaction features a capital markets take out option, provided by BNP Paribas, confirms the French bank. After the recent change of the French legislation governing Coface support the financing will be one of the first ATR financings benefiting from a 100% guarantee.

The first aircraft (MSN 1092) under this ECA guarantee closed earlier this month. The second aircraft (MSN 1114) is scheduled for delivery in August.

The aircraft are part of a 15-aircraft order placed by Avianca-Taca group last December.