BNP Paribas closes A320 financing for LATAM

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

BNP Paribas has closed financing of the first of two new Airbus A320 deliveries to LATAM Airlines Group.

The French bank is the arranger of a commercial debt facility covering an A320 (MSN 5707) delivered to LAN Airlines. The second aircraft under this facility is expected to be delivered in December.

The transaction is part of an eight-aircraft mandate arranged by a syndicate of banks. BNP Paribas and the Commonwealth Bank of Australia are the structuring agents, and, together with the Development Bank of Japan and NordLB, form the mandated joint lead arrangers.

The aircraft will be delivered to LATAM Airlines Group during the third and fourth quarter 2013.

Each of the mandated lead arrangers funds two aircraft under this facility, which is agented by BNP Paribas and represents the first time that LATAM is tapping the commercial debt market for its Airbus equipment.

Earlier this month German bank NordLB funded an A320 (5654) delivered to TAM Linhas Aereas, while Commonwealth Bank of Australia funded an A320 (5683), delivered to LAN Airlines.