Aergo Capital Limited (“Aergo”) recently completed the sale and leaseback of two widebody aircraft with Iberia. Aergo has now successfully closed the financing of these two Airbus A330-200 aircraft, bearing manufacturers serial numbers 1864 and 1882. Airbus Bank GmbH provided the financing for one of the aircraft (MSN 1864), which was arranged through Investec Bank plc and financing of the other aircraft (MSN 1882) was arranged by Ashland Place Finance LLC (“Ashland Place”), a commercial aviation financing platform. Both aircraft are subject to long-term leases with Iberia.
Fred Browne, Chief Executive Officer of Aergo, commented: “We are very happy to close the first financings with both financiers. The closing of these transactions demonstrates our ability to expand our profile of debt partners and we are very much looking forward to further developing our relationship with each party.”
Tom Dreckmann, Head of Aerospace Airbus Bank GmbH said: “We are delighted to welcome Aergo as a new customer to our diversified lending portfolio to airlines and operating lessors. This transaction further demonstrates the bank’s continued support of the industry throughout this crisis and we are looking forward to a close relationship with Aergo.”
Rose Howley, Investec Aviation, commented: “We are delighted to have closed this transaction with Aergo Capital and Airbus Bank and look forward to further developing these relationships”
Jennifer Villa Tennity, Executive Director and Group Head of Ashland Place, commented: “We are delighted to have the inaugural transaction on the Ashland Place platform with a valued partner such as Aergo. We are looking forward to supporting Aergo on many more acquisition opportunities.”
Smith, Gambrell & Russell (SGR) acted as lead counsel to Aergo, Clifford Chance acted as lead counsel to Investec and Allen & Overy LLP acted as lead counsel to Ashland Place. KPMG advised Aergo on tax matters.