Monday, 9 August 2021

CDB Aviation executes $660 million portfolio financing backed by 13 Airbus and Boeing aircraft


CDB Aviation has announced the company has entered into a facility agreement for the secured portfolio of thirteen Airbus and Boeing aircraft, valued at approximately US$660 million. The transaction brings the lessor’s executed financings year-to-date to a total of US$2.53 billion.

The first large-sized portfolio financing executed by the lessor since the onset of the COVID-19 pandemic is secured with a combination of Airbus A320-200 and A350-900 as well as Boeing 737 MAX 8 and 787-9 Dreamliner aircraft.

“Diversifying financing sources at a competitive cost of capital is one of our key objectives,” underscored CDB Aviation Chief Financial Officer Brendan O'Neill, noting that the transaction demonstrates the strong and wide-ranging relationships the company has built over the years with members of the banking and capital markets communities.

The facility is provided by a group of leading MLA banks, consisting of: Natixis, MUFG Bank Ltd., Crédit Agricole Corporate and Investment Bank, BNP Paribas, Nord/LB, Société Générale, and The Hongkong and Shanghai Banking Corporation Limited. Crédit Agricole Corporate and Investment Bank acted as Facility Agent and Security Trustee, and Natixis and MUFG Bank Ltd. jointly coordinated the transaction.

“We are very pleased to welcome our existing lenders and counterparties to this new facility, all of whom are major international aviation lenders, and look forward to continuing to build long-term relationships with them. We also appreciate the strong support from our shareholder in concluding this transaction,” added O'Neill.

Patrick Hannigan, CDB Aviation Chief Executive Officer, pointed out that “our continued significant momentum, notwithstanding the toughest market the aircraft leasing industry has ever experienced, speaks to the strength of our integrated platform and our team’s foremost ability to execute.”

Coupled with the scale, market reach, and strong origination and structuring expertise, CDB Aviation is well positioned to help airlines and lessors address their most pressing challenges triggered by the pandemic.

Hannigan concluded: “The lenders’ recognition of our platform’s core strengths is the direct result of collaborative efforts of our entire team, with their unfaltering commitment to our long-term vision and continued hard work in all aspects of our operations – all with the goal of supporting airline customers in navigating this pandemic-effected market environment.”



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