20 Aug 2018
Investec provides junior loan financing for Ethiopian Airlines
Ethiopian Airlines Group (Ethiopian Airlines) has received a USD25 million 7-year junior loan facility to finance its first five Boeing 737-8 aircraft. The junior loan facility formed part of Ethiopian Airlines’ first Aircraft Finance Insurance Consortium (AFIC) transaction.
The junior loan facility successfully closed, with delivery of the first two aircraft to Ethiopian Airlines occurred in June and August 2018. The remaining three aircraft are scheduled for delivery between September and November. Investec’s Aviation Finance team, based in Johannesburg, acted as lead arranger and agent for the junior loan facility and Investec Asset Management as lenders.
Vedder Price in New York represented Investec, Pillsbury Winthrop Shaw Pittman represented Ethiopian Airlines