Banks close financing for Hawaiian A330

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A consortium of two European banks has closed financing on a new Airbus A330-200 delivery for Honolulu-based Hawaiian Airlines.

The banks, DVB Bank and Crédit Industriel & Commercial, are the providers of a commercial debt loan covering the aircraft (MSN 1422), which delivered on 20 June.

The A330-200 is the fifth widebody aircraft received by Hawaiian this year. Financing for the carrier's previous deliveries has included sale and leasebacks with Hong Kong Aviation Capital on two A330-200s and bank debt with BNP Paribas, Crédit Industriel et Commercial, DVB Bank and Nord/LB.

Hawaiian's next A330 delivery is planned for November this year and the aircraft will be financed along with another five A330s joining through October 2014, via the capital markets. The carrier closed a $444.5 million secured enhanced equipment trust certificate (EETC) issue for six A330-200s last month.

The 2013-1 notes are split between a $328.3 million A senior tranche with a July 2027 maturity and a $116.3 million B tranche with a July 2023 maturity. The A tranche has a 3.9% coupon while the B tranche was priced at 4.95%.

The initial loan to aircraft value ratios are 52.8% for the A notes and 71.5% for the B notes.

Hawaiian has 13 A330-200s in its widebody fleet, as well as 15 Boeing 767-300ERs, according to Flightglobal's Ascend Online database. It has orders for nine A330s, including the six that were financed with the EETC, and six A350-800s.