Emirates mandates 777s financing

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Middle Eastern carrier Emirates Airline has mandated the financing of three Boeing 777-300ER aircraft deliveries scheduled for this year to consortium of banks, sources indicate.

BNP Paribas was the lead and joint arranger, as well as the coordinator of a 12-year facility that was syndicated to local and international banks.

Standard Chartered Bank also acts as joint arranger in the transaction.

The first aircraft has closed. The remaining two units are due in the final quarter of 2014, says a source.

Last month Emirates closed a 12-yearr finance lease financing covering a new 777-300ER delivery with Credit Agricole-CIB. The French bank acted as sole underwriter, facility agent and security trustee. This was the second 777-300ER financing closed by Credit Agricole-CIB this year for Emirates.