Investec closes financing with Acorn for four A330-300 aircraft

The aircraft are A330-300 Airbus passenger aircraft on lease to a global airline. After return from lease, the aircraft will be parted-out by EirTrade.

Investec acted as a Structuring Agent, Mandated Lead Arranger and a Lender.  Milbank and Clifford Chance provided legal counsel to Investec and Acorn, respectively.

Lukasz Laski of Investec Aviation Finance said: "Our latest Aviation Market Snapshot found that strong passenger demand, combined with production and certification delays, has resulted in significant backlogs in aircraft delivery. This has led to increased interest in mid-and end-of-life aircraft, and we are pleased to leverage our deep technical asset expertise to service that need."

“Financing through part-out is an innovative structure that is not common in the industry. We are proud to work with clients like Acorn and EirTrade to offer this solution, which provides flexibility and speed, ensuring a one-stop service with Investec supporting the client throughout the process. We have enjoyed the collaborative nature of this transaction, ensuring that all parties achieved their expectations, and we look forward to building on this collaboration in the future."

Justin Chung, Head of Alternative Credit Strategiesat Acorn Capital Management, said: "We are pleased to partner with Investec on this transaction. Their deep understanding of the aviation sector and our unique requirements has been crucial in navigating the complexities of financing end-of-life aircraft. Investec's commitment to collaboration and their ability to deliver tailored solutions have enabled us to make informed decisions that enhance our operational capabilities. We look forward to continuing this successful partnership as we explore future opportunities together."

Lee Carey, Chief Investment Officer of EirTrade Aviation, said: "Working with Investec has been instrumental in providing vital financing to the aviation sector. Their expertise and collaborative approach have been key in supporting our efforts to address the challenges in this important market."

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.