KfW IPEX-Bank closes A320 financing for Air Arabia

Source: Flightglobal.com
This story is sourced from Flightglobal.com

German financier KfW IPEX-Bank has closed financing on a new Airbus A320 aircraft for Air Arabia under 12-year export credit agency (ECA)-supported loan fronted by Euler Hermes.

The aircraft (MSN 5576) is part of a six-aircraft facility mandated last year by the Arabian budget carrier. Two aircraft closed earlier this year as finance leases while the remaining four units are under an ECA-guaranteed facility.

Closing and delivery of the aircraft took place on 18 April 2013.

The bank acted as sole arranger, agent and security trustee in the transaction.