China Southern closes A320 financing with syndicate of banks

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

China Southern Airlines closed the financing of one new Airbus A320 aircraft with a consortium of three banks.

Crédit Agricole Corporate & Investment Bank (CA-CIB), Crédit Industriel & Commercial (CIC) and Sumitomo Mitsubishi Banking Corporation (SMBC) acted jointly as mandated lead arrangers of a 12-year French lease combined with export credit agency financing.

CA-CIB acted as global coordinator, facility agent, national agent and security trustee. CIC acted as lease arranger.

The aircraft, MSN 5170, is part of a mandate covering two new A330-200s and four A320s a group of banks comprising CA-CIB, CIC, KFW IPEX-Bank and SMBC. The three banks closed a similar transaction on MSN 4919, which was delivered to China Southern in April.

Last month CIC, CA-CIB and KfW IPEX-Bank jointly arranged a new A330 delivery financing under a similar structure.