HSBC refinanced a new Boeing 777-300ER with General Electric GE90-115B engines in a $153 million US Export-Import Bank- (Ex-Im) guaranteed bond transaction.
The bank funded the initial loan, which was drawn in December 2012, along with the delivery (MSN 39687) to Etihad Airways.
The 12-year fixed financing bond priced at 1.682% coupon equivalent to market swaps plus 52 basis points. HSBC is also the bookrunner in the transaction.
The deal marks the fourth time that Etihad has tapped the capital markets in the past 12 months.
Two new 777-300ERs, delivered in the first quarter of 2012, refinanced under 12-year US Ex-Im Bank guaranteed bonds at 2.405% (January 2012 delivery) and 2.164% (February 2012 delivery).
In June last year, HSBC arranged a $151.658 million Ex-Im-guaranteed bond with a 1.87% coupon for another 777-300ER (MSN 39686).
This year, Etihad Airways is scheduled to take delivery of a total of 14 aircraft, according to Flightglobal's Ascend Online database. The Middle East carrier has four Airbus A320s and one A321 delivering in July, September, October, November and December. Four 777-300ERs are scheduled for January, June, September, October while another two aircraft are scheduled for December. Etihad Crystal Cargo will take one A330F in May as well as two 777Fs in February and December.
The Abu-Dhabi carrier said earlier this week that it has already mandated the nine widebodies in $1 billion worth of transactions.