CDB Aviation Lease Finance has closed a $700 million portfolio financing which will help the company procure a portfolio of 19 aircraft.
The seven-year facility will be secured by the 19 aircraft – a mix of Airbus and Boeing jets – and is being provided by eight banks, including new funding partners, says CDB Aviation.
The mandated lead arrangers were BNP Paribas, Credit Agricole CIB, ING Bank, National Australia Bank, Natixis, Societe Generale, Sumitomo Mitsui Trust Bank and Westpac. Credit Agricole CIB was also facility agent while Bank of Utah was security trustee.
Allen & Overy is acted for the banks while Clifford Chance represented CDB Aviation in the transaction.
"Diversifying financing sources at a competitive cost of capital is a key objective for CDB Aviation, and we appreciate the strong support from our banking partners in concluding this transaction," states Will Gramolt, the lessor's finance chief.
In December 2017, the lessor closed a secured facility to fund the purchase of 14 aircraft. It has also turned to the medium-term note market to raise capital at least twice during the last 12 months.
CDB Aviation manages a fleet of 211 aircraft, Flight Fleets Analyzer shows, and has orders for over 200 more.
Source: Cirium Dashboard