Doric arranges financing for two Boeing 737s

Doric has concluded junior financing for two Boeing 737-800 aircraft. Both aircraft are on finance lease to Norwegian which has been operating them since August and September 2015 respectively. The lease term is 12 years. As Europe’s third largest low-cost carrier Norwegian is keen to expand, not only within Europe, but also in the longhaul market. The senior lender is Norddeutsche Landesbank Girozentrale (Nord/LB) with a loan volume of US$68m. The junior loan totalling US$26m was provided by a family office based in the UK. The overall financing arranged by Doric is US$94m for both aircraft.