Norwegian secures first Ex-Im bond to fund 737-800 and 787 aircraft

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

Norwegian has made its debut in the US Export-Import Bank bond market, securing $170 million in financing to fund three Boeing deliveries, according to financing sources.

The Oslo-based low-cost carrier issued two bonds on 3 December, covering two 737-800s and one 787-8 delivery.

The first Ex-Im bond, priced at 2.578% and amounts to $74.6 million. It covers two new 737-800 deliveries.

The second bond achieved a coupon of 2.565%. The $96.1 million transaction covers a 787-8 delivery (MSN 34795), and marks Norwegian’s first 787 on to be financed on the carrier’s balance sheet. The other two 787s currently in service are on lease from ILFC for a period of 12 years.

Norwegian requested financing from US Ex-Im for Boeing 737-800s in late October.