Regional aircraft lessor TrueNoord has upsized and syndicated a five-year Term Loan facility with BayernLB, who acted as Sole Structuring Agent & Mandated Lead Arranger, to finance 21 regional aircraft. Additionally, Airbus Bank GmbH and Hamburg Commercial Bank (HCOB) have joined the lender group.
“We have been talking to both Airbus Bank and HCOB for some time, so are very pleased to enfold them within our broadening group of financiers,” said Joram Lieteart Peerbolte, TrueNoord’s Chief Operating Officer and General Counsel. “We appreciate the ongoing confidence shown by the financing community in TrueNoord as a secure and credible investment partner, which is demonstrated in this latest transaction. It was a pleasure working with BayernLB again.”
“This transaction is evidence of our ability to structure, underwrite and syndicate facilities tailored to our specialist lessor clients’ needs,” commented Viktor Berta, Director of Aviation and Space at BayernLB in London. “Growing our relationship with TrueNoord is a great feat and we were pleased to see robust demand by our syndication partners, a testament to TrueNoord’s popularity amongst financiers.”
Currently, TrueNoord has over 100 regional aircraft on lease to more than 30 airlines across the world, including the recent additions of Eastern Airways, Emerald Airlines, Air Serbia, Widerøe, LOT, and Olympic Air.
“Airbus Bank is pleased to foster its long-term relationship with TrueNoord by entering into this facility. Airbus Bank has been active in supporting lessors in the regional market since its inception in 2014,” said Tom Dreckmann, Head of Aerospace, Airbus Bank GmbH. “We are glad to support TrueNoord’s continued growth of its operating lessor platform and join this banking club.”
Debbie Frew, Managing Director at HCOB, added: “We are thrilled to close our first commitment for TrueNoord and look forward to expanding this relationship further in the coming months and years. This transaction demonstrates HCOB’s appetite for financing regional aircraft, and we are looking forward to growing and diversifying our commitments to this sector.”
Photo: TrueNoord
