Banks close Thai A330 financing

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Thai International Airways closed the financing of one new Airbus A330-300 aircraft, MSN 1338, on 18 September 2012.

The financing took the form of a French Lease combined with commercial financing. Crédit Agricole Corporate and Investment Banking, Landesbank Hessen-Thüringen Girozentrale and local Kasikornbank public company acted as mandated lead arrangers.

Crédit Agricole-CIB also acted as lease arranger, facility agent and security trustee. Norton Rose acted for the mandated lead arrangers. Baker & McKenzie acted for Thai Airways.

Thai received one A330-300, MSN1289, in February and financed the delivery with commercial debt facility provided by BNP Paribas, Development Bank of Japan and Sumitomo Mitsui Banking Corp. In this financing BNP Paribas was the main arranger, facility agent and security trustee.

Last month Thai approached the banking market with a request for proposals, covering up to three Airbus widebody aircraft scheduled for delivery next year. The carrier will receive one A380 and one A330-300 aircraft in January 2013. Another A330-300 is scheduled for April. According to the terms of the RFP, one to two A330-300 are considered in the proposal.

Thai is seeking European export credit agency (ECA)-guaranteed financing for the A380. On the A330, Thai is looking for commercial debt loan facilities proposals with an option for European ECA-guaranteed financing, according to sources.