Standard Chartered closes Air Arabia’s A320 ECA financing

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Standard Chartered Bank has closed an Export Credit Agencies (ECA) guaranteed transaction to finance the acquisition of two new Airbus A320s for Air Arabia.

The two new A320s, MSNs 5143 and 5206, were delivered in May and July 2012.

The ECA-guaranteed financing facilities were arranged, underwritten and funded exclusively by Standard Chartered Bank. Euler Hermes was the fronting ECA in the transaction.

Heinz Noeding, global head of structured export finance, Standard Chartered Bank, said: "Standard Chartered is delighted to have been mandated by Air Arabia for this important transaction, which demonstrates our commitment to partnering with key clients through the economic cycle."