Deutsche Bank has taken advantage of strong Japanese investor appetite to refinance a Boeing 777 for Air France-KLM.
The long-haul aircraft has been placed into a Japanese operating lease structure with a call option (JOLCO), market sources indicate.
In May, Air France-KLM closed a 12-year JOLCO covering a new Boeing 777-300ER. The aircraft (MSN 40376), equipped with GE90- engines, was delivered to the airline on 15 May.
BNP Paribas served as sole lease arranger and debt co-arranger for the $150 million transaction. Debt financing for the aircraft was provided by BNP Paribas, CIC and Natixis.