Investec provides $15m to Global Knafaim Leasing for A330-200 on lease to Iberia as demand for aviation financing rises

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Investec Aviation Finance (Investec) has provided $15m of financing to Global Knafaim Leasing Ltd (GKL). The senior debt is secured against an A330-200 aircraft recently placed on lease with Iberia.

This is Investec’s first transaction with GKL, which acquires, leases and trades in used commercial aircraft. The deal reflects the high levels of demand Investec is seeing for aviation financing following a strong 2023. Last year, Investec closed $834m of aviation debt across 67 aircraft.

The facility also demonstrates Investec’s ability to provide innovative solutions for aviation companies. The debt package was structured in a specific manner to minimise the metal risk posed by ageing aircraft at maturity whilst also providing the level of financing required by GKL.

Joseph Barnwell, Debt Origination at Investec Aviation Finance said: “We are seeing strong and growing demand for aviation financing. This is down to a combination of more Original Equipment Manufacturer (OEM) aircraft deliveries in 2024 compared to previous years, and increased trading among lessors, spurred by moderating interest rates. All these factors should further boost opportunities for deploying funds in aviation debt in 2024. It was a pleasure to work with GKL and create an innovative solution to meet its needs.”

Sidney Slasky, GKL’s President & CEO, said: “Investec successfully delivered a bespoke solution to meet our needs and we are delighted to have closed our first deal together. We look forward to collaborating on more opportunities in the future.”

About Investec Aviation Finance

Investec Aviation Finance is part of Investec Bank plc, the FTSE 250 bank. The team operates across the UK, South Africa, the US, Singapore and Dublin. Over the past 10 years it has originated c.$10bn of aviation debt and has acquired and managed more than $9bn of aircraft assets.