Cargolux seeks Ex-Im financing for two 747-8Fs

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Luxembourg-based freight operator Cargolux is seeking US Export-Import Bank support for two new Boeing 747-8 freighters.

A decision on the request will be made after 19 June, says the bank.

Cargolux operates a 20-aircraft fleet comprising nine 747-8Fs, nine 747-400F/ERFs and two 747-400BCFs. It has orders for five new 747-8Fs.

The freighter operator tells Flightglobal that Ex-Im applications have been made for a delivery scheduled in July and another planned for the end of 2015.

Cargolux also has one delivery slated for September and another for March 2015. These will be financed in the commercial banking market.

In 2013, Cargolux returned to the Ex-Im-guaranteed bond market to finance three new Boeing 747-8F deliveries.

Via its March 2013 debut bond, it financed a new 747-8F delivery in a deal that priced at market swaps plus 47 basis points for a coupon of 1.859%.

In May, it closed a $156 million bond featuring a 12-year stretched overall amortisation repayment (SOAR) loan arranged by Credit Agricole CIB. BNP Paribas was the arranger and sole bookrunner in the transaction. Credit Agricole CIB is also the agent of the SOAR loan. The transaction priced at a 1.736% coupon.

In September 2013, it closed a $156 million pre-funded bond arranged by BNP Paribas. The transaction priced at 2.817% a coupon.