Details of three Emirates widebodies recently financed via Japanese operating leases with call options (JOLCOs) have been disclosed by sources.
On 26 May, the Middle Eastern carrier financed one new Boeing 777-300ER (MSN 42332) through a 12-year JOLCO, which featured dollar-denominated amortising senior and junior commercial loans, sources indicate.
French bank Credit Agricole CIB says it acted as overall arranger, facility agent and security trustee. FPG provided the Japanese equity.
Emirates carrier and Credit Agricole CIB also worked on the other two JOLCOs.
On 21 April, the French bank acted as overall arranger for a 12-year JOLCO for Emirates, again financing a 777-300ER (MSN 42331). The aircraft cost was financed through a 12-year dollar-denominated amortising senior commercial loan. A number of undisclosed Japanese lessors provided the equity.
Credit Agricole CIB and DBS acted as mandated lead arrangers on the transaction.
On 23 December 2015, Emirates financed an Airbus A380 (MSN 204) through a Credit Agricole CIB-arranged 12-year JOLCO, which comprised dollar-denominated amortising senior and junior commercial loans.
FPG provided the Japanese equity for this transaction.
Norton Rose Fulbright represented Credit Agricole CIB, while Dentons provided legal advice to Emirates.
This story has been updated to correct incomplete MSNs
Source: Cirium Dashboard
