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10/06/2010 / NETHERLANDS / AIR TRANSPORTATION AND RAIL FINANCING
Crédit Agricole CIB involved in the purchase of six Airbus by AerCap
In September, AerCap closed two transactions for the financing of six Airbus aircraft with the European Export Credit Agencies, led by the Export Credits Guarantee Department ("ECGDThe Export Credits Guarantee Department is the United Kingdom's Export Credit Agency (ECA). It reports through to the Secretary of State for Business, Innovation and Skills. ECGD derives its powers from the 1991 Export and Investment Guarantees Act and undertakes its activities in accordance with a specific consent from HM Treasury.") - the United Kingdom's Export Credit Agency.
Crédit Agricole CIB acted as joint bookrunner and joint structuring agent for the ECGD bonds, alongside Goldman Sachs.
The first transaction increased AerCap's European Export Credit Agencies facility by USD 164 million and completed the financing of five Airbus A320 aircraft. Three of them were delivered on long-term leases, with the ECA guaranteed debt provided by Credit Agricole CIB.
The second transaction is related to the closing of the company's second bond issuance guaranteed by the ECGD. The USD 74 million transaction, maturing in 2021, completed the refinancing of an A330-300 aircraft which was previously financed by ECA-guaranteed debt provided by Credit Agricole CIB. The respective aircraft was delivered to AerCap in the fourth quarter of 2009 and has been placed on a long-term lease.
Keith Helming, AerCap's Chief Financial Officer, commented: "These transactions are an important part of the financing strategy for our Airbus deliveries. The success of these deals was largely driven by the support we received from both our long-term business partners, Crédit Agricole CIB and ECGD.”
Crédit Agricole CIB acted as joint bookrunner and joint structuring agent for the ECGD bonds, alongside Goldman Sachs.
The first transaction increased AerCap's European Export Credit Agencies facility by USD 164 million and completed the financing of five Airbus A320 aircraft. Three of them were delivered on long-term leases, with the ECA guaranteed debt provided by Credit Agricole CIB.
The second transaction is related to the closing of the company's second bond issuance guaranteed by the ECGD. The USD 74 million transaction, maturing in 2021, completed the refinancing of an A330-300 aircraft which was previously financed by ECA-guaranteed debt provided by Credit Agricole CIB. The respective aircraft was delivered to AerCap in the fourth quarter of 2009 and has been placed on a long-term lease.
Keith Helming, AerCap's Chief Financial Officer, commented: "These transactions are an important part of the financing strategy for our Airbus deliveries. The success of these deals was largely driven by the support we received from both our long-term business partners, Crédit Agricole CIB and ECGD.”