Natixis and pbb Deutsche Pfandbriefbank co-arrange Turkish Airlines’ purchase of three Airbus aircraft
Natixis and pbb co-arrange the financing of Hermes-covered loans, totalling CHF 260 million.
Natixis acts as co-arranger, agent and security trustee.
Pbb acts as co-arranger and sole lender of this facility covering three Airbus aircraft.
The first aircraft financing arranged in Swiss francs for a Turkish airline.
Earlier this year, Natixis and pbb Deutsche Pfandbriefbank mandated the financing of two Airbus A330-300 long-range passenger jets and one A330-200F cargo plane, closing the transaction for Turkish Airlines in April 2015.
In total, the financing provided to Turkish Airlines is an aggregated amount of CHF 260 million. The loans are covered by export credit guarantees, backed by Euler Hermes, the German export credit agency. The funds have been used to purchase two Airbus A330-300 and one A330-200F aircraft.
Natixis acted as co-arranger, agent and security trustee, while pbb acted as co-arranger and sole lender.
The transaction cements Natixis’ position as an expert arranger of Aviation Export Credit backed loans. Indeed, with 40 years’ experience in this field, Natixis has structuring capacities in multi sourced export credit.
In 2014, Natixis received the Aircraft Finance Innovator of the Year award and the Aircraft Debt Deal of the Year – Latin America award by Global Transport Finance for arranging the ECA backed financing of 11 SSJ100 for the Mexican airline InterJet.
Benjamin Sirgue, Natixis’ Global Head of Aviation, Export and Infrastructure, points out that “this transaction is a successful cooperation between Natixis, pbb and Turkish Airlines. It is the third deal Natixis has closed together with pbb for Turkish Airlines. Thanks to the dynamic mindset of the airline’s finance team, Natixis continues to strengthen its relationship with Turkish Airlines by providing innovative structures.”