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Chinese lend $358 million to AerCap
09 November 2009
AerCap closes a landmark deal with Chinese Development Bank. This is the first loan for an international aircraft lessor from the Chinese bank.
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[AerCap]
[AerVenture]
[Genesis Lease]
[China Development Bank]
[A330]
[pre-delivery payment financing]
[export credit agencies]
[ECAs]
[US Export-Import Credit]
AerCap has had a busy year. The company has brought in a new equity partner in its joint venture, AerVenture, which acquired competitor Genesis Lease and most recently has received a $358 million loan from China Development Bank.
AerCap and the bank started discussing the transaction in late spring this year. By early November the parties agreed the terms of a deal, which will finance four A330s delivering in 2010 and 2011, covering both $86 million of pre-delivery payments as well as $272 million in...
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