German banks close ECA financing for Air Pacific

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Two German banks, KfW IPEX-Bank and Helaba, have jointly closed an European export credit financing facility covering the first Airbus A330-200 aircraft for Air Pacific.

SkyWorks Capital issued the request for proposals on behalf of Air Pacific in late 2012 and the Fijian flag carrier mandated the banks in February.

The aircraft (MSN 1394) was delivered last month.

Under the financing, both banks are jointly arrangers of the facility and co-debt providers. KfW IPEX-Bank is the facility agent.

The aircraft is the first of the three ordered by the airline in October 2011 and covered under the ECA-supported facility. Delivery of the remaining two aircraft are scheduled to take place in May and November, respectively.

The A330s will replace the carrier's two Boeing 747-400s, which will be returned to their lessors by the end of the year.

The aircraft are being delivered in Fiji Airways livery as part of a rebranding in which Air Pacific will assume the new name and visual identity in June.