VALC finances A321 with four banks

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A syndicate of four banks has closed a 12-year export credit agency (ECA) backed loan on another new Airbus A321 for Vietnam Aircraft Leasing (VALC).

The A321 is the sixth unit in an order for 10 A321s - valued at $561 million and guaranteed by Germany's Euler Hermes. Lenders include Sumitomo Mitsui Banking Corporation, KfW Ipex-Bank, Landesbank Hessen-Thuringen Girozentrale (Helaba), and AKA Export Finance Bank.

The aircraft (MSN 5385) is being leased to Vietnam Airlines. In December, the Vietnamese flag carrier received another A321 (MSN 5427), which it transferred to subsidiary Cambodia Angkor Air.

Flightglobal's Ascend Online database shows that Vietnam Airlines has 39 A321s in its fleet and another 15 on order.

VALC has four more aircraft (MSNs 5438, 5456, 5495 and 5555) scheduled for delivery through April 2013, while Vietnam Airlines will take three A321s in the final quarter of this year, six A321s in 2014 and the final two in 2015.