DVB Bank was the exclusive financial advisor to Marubeni Corporation (Marubeni), in a landmark transaction for the acquisition of 15.25% stake in Aircastle Limited (Aircastle) for US$209m, through issuance of new shares. The transaction was announced on 6 June 2013 and closed on 12 July 2013 after having received regulatory approvals from the US and
FLY Leasing, a leading global lessor of modern commercial jet aircraft, has increased the size of its aircraft acquisition facility from $250m to $450m. The facility’s availability period has also been extended for two years, followed by a three year term out period to July 2018. The margin on the facility was reduced by 0.50%
Etihad Airways reported its strongest second quarter and half-year financial performances on record, reflecting continued solid growth in its airline alliance strategy and global cargo operations. The national carrier of the United Arab Emirates achieved an 8% increase in Q2 2013 passenger revenues, generating US $921m (2012: US $855m), while passenger revenues for the first
A €180m syndicated revolving credit facility for Finnair Plc. with Handelsbanken as coordinator and Handelsbanken, Pohjola, Nordea, Skandinaviska Enskilda Banken and Danske Bank as mandated lead arrangers, was signed on 2nd July 2013. The Facility carries a maturity of 3 years.
Nimrod Capital and Doric Lease announced the successful listing of a new investment company on the London Stock Exchange (LSE). Doric Nimrod Air Three Ltd. (“DNA3”) aims to pay a quarterly dividend equivalent to 8.25% annum (based on the issue price of 100 pence per share) following the purchase and leasing of four Airbus A380
TransDigm Group announced that it acquired the assets of GE Aviation’s Electromechanical Actuation Division for approximately $150m in cash on June 28, 2013. The business, which will be conducted by TransDigm through a new entity, Whippany Actuation Systems, (Whippany), located in Whippany, New Jersey, manufactures proprietary, highly engineered aerospace electromechanical motion control subsystems for civil
Willis Lease Finance increased its revolving credit facility to $450m from $430m. The credit facility is available to Willis Lease on a revolving basis through November 2016. This and other credit facilities support the company and its subsidiaries in financing its lease portfolio, which stood at over $1bn as of March31, 2013.
Air Lease Corporation executed an amendment to its Bank Warehouse Facility. This facility, as amended, provides ALC with financing of up to $1bn. ALC is able to draw on the amended facility during an availability period that was extended to June 2015 with a subsequent 4 year term out option. The interest rate on the
Delta acquired a 49% stake in Sir Richard Branson’s airline Virgin Atlantic – marking the next step towards a full joint venture between the two carriers. Virgin Atlantic will place its code on 91 Delta routes, including both trans-Atlantic and domestic U.S. routes. Delta will place its code on 17 Virgin Atlantic routes, including the
Nordic Aviation Capital is pleased to confirm that it has successfully closed a $230m loan with institutional investment funds managed by three US investors: Highbridge Principal Strategies, Athene Asset Management and Oak Hill Advisors (Europe). The investor group was led by Highbridge Principal Strategies. Nordic Aviation Capital was advised by Clifford Chance. Knight Capital acted
