Nordic Aviation Capital taps capital market

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Operating lessor Nordic Aviation Capital has raised funding from the capital markets to finance its aircraft deliveries.

The privately owned Danish lessor says it tapped the market for $230 million with a five-year maturity.

The facility is unsecured.

The transaction marks the first time NAC secures a loan facility from the capital markets. "We have more than $1 billion worth of deliveries scheduled and we needed to bridge the gap between the senior debt and the price of the acquisition," says Nordic.