DNA3 closes financing on another A380 for Emirates

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Doric Nimrod Air Three (DNA3) has closed the $245 million acquisition of a second Airbus A380 and placed it under a 10-year operating lease with Emirates Airline.

The aircraft (MSN 136), which was delivered on 29 October, is financed as part of Doric’s $630 million DNA Alpha pass through certificates offering.

The equity capital was provided by DNA3.

Under the financing, which closed in June, the $462 million Class A notes carry a final maturity of 9.9 years, while the $168 million Class B notes are expected to mature in 6.4 years.

The Class A certificates priced at 5.25% and the Class B certificates priced at 6.125%.

Citigroup, Goldman Sachs Group and Morgan Stanley are the bookrunners on the transaction. Crédit Agricole, acting via its New York branch, will provide separate committed liquidity facilities sized to meet the next four semi-annual interest payments.

Two additional A380s (MSNs 133 and 134) are to be delivered to Emirates during the fourth quarter, says Doric.