• NCB Capital Announces The Acquisition Of A $0.8 Billion Aircraft Portfolio
NCB Capital Announces The Acquisition Of A $0.8 Billion Aircraft Portfolio

NCB Capital(DIFC) Limited, a subsidiary of NCB Funding Company, the Middle East's leading Capital company, announced the purchase of a profile of 21 industrial aircraft from AerCap Holdings N.V. (NYSE: AER). AerCap will maintain an equity stake in the profile and will offer technological and lease monitoring solutions in its capability as the portfolio servicer.

The profile makes up a mix of narrow-body and wide-body Airplane and Boeing airplane on lease to 14 airlines across the world. The procurement of the
portfolio is part-financed with a non-recourse term financing arranged by BNP Paribas, Citibank and Credit Suisse.

Sarah Al Suhaimi, Ceo of NCB Funding said, "Aircraft leasing is a quick growing industry that provides a unique and attractive diversity possibility. We are delighted to have partnered with AerCap, the global leader in aircraft leasing, in this purchase that is the initial of its kind in our market."

"This deal with NCB Funding is a clear presentation of the attractiveness of our aeronautics properties around the world," said Aengus Kelly, Chief Executive Officer of AerCap. "" The purchase is further evidence of the reach of the AerCap platform and our self-displined method to profile management.

We give thanks to NCB Funding for their confidence in AerCap and we expect working with the Peregrine team in the future."

The transaction has been finished through Peregrine Aviation Company Limited that is owned by an NCB Capital (DIFC) took care of vehicle and AerCap.

Milbank, Tweed, Hadley & McCloy LLP acted as lawful consultants to NCB Funding ( DIFC) and Peregrine.

80575

Comment

Plaintext

  • Allowed HTML tags: <a href hreflang> <em> <strong> <cite> <blockquote cite> <code> <ul type> <ol start type='1 A I'> <li> <dl> <dt> <dd> <h2 id='jump-*'> <h3 id> <h4 id> <h5 id> <h6 id><p>
  • Lines and paragraphs break automatically.

Read More