Banks complete Aeroflot A330 financings

London
Source: Flightglobal.com
This story is sourced from Flightglobal.com

A syndicate of banks led by Citibank have closed the final Airbus A330-300 financing for Aeroflot - Russian Airlines.

The aircraft (MSN 1371), which was delivered earlier this month, is the last of a five-aircraft mandate under an export credit agency (ECA)-supported facility fronted by Germany's Hermes-Euler.

Citibank, JPMorgan Chase Bank, and KfW IPEX-Bank were the joint arrangers of a 10-year loan covering the aircraft. The closing follows similar financings on two A330s (MSNs 1345 and 1356), with all three banks acting as lenders on each delivery.

Another two A330s (MSNs 1323 and 1328) were delivered to Aeroflot earlier this year and were funded by Royal Bank of Scotland (Deutschland) under ECA facilities.

Citi acted as co-ordinator in respect of the ECA financing for Aeroflot. The US bank was also the facility agent and the security trustee.