United Airlines has closed a $252 million facility to fund 12 new Embraer 175s delivering this year, according to a source who worked on the transaction.

The delayed draw term loan, which closed in mid-June, includes seven financial institutions. Credit Agricole CIB is sole arranger and administrative agent.

The aircraft are part of a firm order for 24 E175s transferred from Republic Airways Holdings to United in November 2016.

United had been seeking funding for 24 E175s since the beginning of the year, according to a comment chief financial officer Andrew Levy made during an earnings call in January.

Previously, the airline has funded E175s via enhanced equipment trust certificate (EETC) transactions as well as assisting regional partners in securing bank debt for aircraft that they operate under contract for the mainline carrier.

Source: Cirium Dashboard