Financing for ten CFM Leap 1B engines is secured for Phoenix Aviation Capital and AIP Capital through our website, CIB.
In a significant development for the aviation industry, a group of prominent financial institutions has come together to finance ten CFM LEAP 1B engines. The financing is being facilitated by our Corporate & Investment Banking (CIB), Bayerische Landesbank, Hamburg Commercial Bank AG, KeyBank N.A., and other undisclosed parties.
Bayerische Landesbank, Hamburg Commercial Bank AG, KeyBank N.A., and CIB are acting as Mandated Lead Arrangers for this engine financing, with CIB also serving as the Mandated Loan Arranger and Underwriter, Agent, and Hedge Counterparty. Crédit Agricole Corporate and Investment Bank is also involved as a Mandated Lead Arranger.
AIP Capital, a global aviation asset management and investment firm, is the lessor for these engines. Mathew Adamo, Managing Partner at AIP Capital, commented on the transaction, expressing excitement about further expanding their relationship with CFM International and all the counterparties involved.
Phoenix Aviation Capital, a full-service lessor focused on financing and leasing modern, in-demand aircraft and engines globally, is the entity that will receive these ten CFM LEAP 1B engines. Based in Dublin, Phoenix Aviation Capital is managed by AIP Capital.
The ten CFM LEAP 1B engines will be leased to a leading maintenance and repair operator, although the specific name of the operator remains undisclosed. The engines are set to be delivered by CFM International in Q4 2024, and AIP Capital will service them upon delivery.
This transaction marks a milestone for CIB's aviation franchise into engine financing, as it is their first with Phoenix Aviation Capital and AIP Capital. Alain Rousseau, the Head of Aviation Finance EMEA at CIB, highlighted the significance of the deal.
Both AIP Capital and Phoenix Aviation Capital view this transaction as a testament to their growth strategies. Phoenix Aviation Capital is continuing to grow its portfolio of next-generation assets, while AIP Capital is looking forward to further expanding its relationship with all parties involved.
This financing deal underscores the continued confidence in the aviation industry and the demand for modern, efficient engines like the CFM LEAP 1B. The transaction is set to be completed in Q4 2024.
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