BNP Paribas Asset Finance has closed a Japanese Operating Lease with Call Option (JOLCO) financing on a new Boeing 777-300ER for Air France. The aircraft, MSN 39971,equipped with GE90-115BL2 engines, was delivered to Air France last month.
The French bank was the mandated as lead arranger and overall arranger of a $150 million worth global transaction, which includes an Euro 12-year debt which will be provided by BNP Paribas and Crédit Industriel et Commercial. BNP Paribas is responsible for the arrangement of lease and debt with Japanese equity providers and debt providers.
"This mandate takes place at a very challenging point in time when Japan is affected by the aftermath of an earthquake and its dramatic consequences. It is the first ever JOLCO transaction for a new widebody aircraft operated by Air France and financed through JOLCO," says BNP Paribas.
BNP Paribas has been mandated by AF-KLM Group to arrange financing for 13 aircraft over the past three years, including two regional aircraft, four narrowbody and seven widebody aircraft.