Specialist regional aircraft lessor, TrueNoord, has secured a new five-year term loan with BayernLB. This term loan reinforces TrueNoord’s strong working relationship with the Bavarian and German financier, following the announcement of their first provision of capital to the lessor in April 2023, as part of a multi-lender term loan. The financing, which includes an accordion feature, will support TrueNoord’s ongoing business growth, funding new asset acquisitions and the refinancing of certain aircraft. Legal advisers Clifford Chance acted on behalf of TrueNoord, while Milbank represented BayernLB.
Viktor Berta, BayernLB Director of Aviation & Space, added, “We are very pleased to grow our relationship with TrueNoord and look forward to further opportunities to support this valued client of our Sector Aviation & Space. The transaction itself is a testament to our continuing commitment to the industry and enhanced capabilities as an aviation financier.”
“There is increasing interest from the finance community in regional aircraft transactions,” added Joram Lietaert Peerbolte,TrueNoord COO and General Counsel. “With a solid track record of successful acquisitions and management of our fleet, we have earned the reputation as a professional, experienced team who delivers with minimal risk. TrueNoord’s status continues to grow as we become an increasingly active participant in the sector and expand our portfolio with a considered and balanced approach.”
