Banks close A380 financing for Thai Airways

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A syndicate of banks including Bayerische Landesbank, Citibank and Natixis have closed financing on the first of two Airbus A380s for Thai Airways.

The banks were mandated earlier this year as join arrangers of a 12-year European export credit agency (ECA) supported loan fronted by the Export Credits Guarantee Department. Citibank is the debt provider in the financing.

The aircraft, MSN 93, was delivered on 29 November.

Under this mandate, a second aircraft, MSN 100, is scheduled to be delivered on 21 December.

Thai received its first A380, MSN 87, in September. BNP Paribas and Sumitomo Mitsui Trust Bank arranged a 12-year export credit agency (ECA)-supported loan facility by the Export Credits Guarantee Department and denominated in Japanese yen. BNP Paribas was the sole arranger, facility agent and security trustee. SMTB acted as a lender in the transaction, which is the first ever financing of an A380 aircraft in Japanese yen.

In 2013, the Thai carrier is due to take delivery of its remaining three A380s. The January delivery has been mandated to Société Générale Corporate & Investment Banking, which will arrange an ECA-supported loan.