BNP Paribas underwrites $3b worth of aircraft transactions in 2012

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BNP Paribas distributed 84% of its underwritten aircraft transactions to institutional investors or banks in 2012.

Last year the French bank underwrote close to $3 billion under a wide range of transactions, including commercial loans, export credit financing, various tax leases and capital markets structures across all regions.

BNP Paribas acted as arranger, underwriter or bookrunner of some 35 aircraft finance-related facilities on behalf of various airlines and aircraft leasing companies.

"This demonstrates our ability to find new solutions to help our clients develop their businesses and support them through varying cycles, and paves the way for new business in 2013 and beyond" says Eric Eugène, global head of transportation finance at BNP Paribas CIB.

According to data compiled by Flightglobal, the French bank used US Export-Import Bank-guaranteed bonds to the tune of more than $1.1 billion in 2012. Its capital market exposure included Ex-Im-guaranteed bond deals with Indonesia's Lion Air, Ireland's Ryanair, US cargo operator Atlas Air as well as Air China. The bank was also involved in Aviation Capital Group's $123 million Ex-Im bond in November.

The bank was the bookrunner of a $148.6 million Ex-Im bond last month, covering a Boeing 777-300ER aircraft operated by Emirates Airline. The transaction priced at 1.684% or the equivalent of market swaps plus 52 basis points.