TrueNoord has upsized and syndicated a five-year term loan facility with BayernLB. The syndication of the facility introduces Airbus Bank GmbH and Hamburg Commercial Bank (HCOB) to the lender group.
The term loan will finance a portfolio of twenty-one aircraft, including turboprops and Ejets, and will further increase the TrueNoord fleet. BayernLB acted as the sole structuring agent & mandated lead arranger for the facility.
“We have been talking to both Airbus Bank and HCOB for some time, so we are very pleased to enfold them within our broadening group of financiers. We appreciate the ongoing confidence shown by the financing community in TrueNoord as a secure and credible investment partner, which is demonstrated in this latest transaction,” said Joram Lieteart Peerbolte, TrueNoord’s chief operating officer & general counsel, “It was a pleasure working with BayernLB again. The upsizing and syndication of this facility required expert knowledge and management to successfully navigate the complicated nature of such financing, which their team delivered with professionalism and speed.”
BayernLB Director of Aviation & Space Viktor Berta said, “This transaction is evidence of our ability to structure, underwrite and syndicate facilities tailored to our specialist lessor clients’ needs.”
He continued, “Growing our relationship with TrueNoord is a great feat and we were pleased to see robust demand by our syndication partners, a testament to TrueNoord’s popularity amongst financiers.”
“Airbus Bank is pleased to foster its long-term relationship with TrueNoord by entering into this facility. Airbus Bank has been active in supporting lessors in the regional market since its inception in 2014” says Tom Dreckmann, head of aerospace, Airbus Bank GmbH, “We are glad to support TrueNoord’s continued growth of its operating lessor platform and join this banking club.”
HCOB Managing Director Debbie Frew added, “We are thrilled to close our first commitment for TrueNoord, and look forward to expanding this relationship further in the coming months and years. This transaction demonstrates HCOB’s appetite for financing regional aircraft, and we are looking forward to growing and diversifying our commitments to this sector.”
Anne-Bart Tieleman, CEO, added, “The TrueNoord team is focused on our growth objectives and constantly evaluating opportunities to acquire portfolios of new and used aircraft for our customers worldwide. This facility further enhances our ability to react in a swift and decisive manner when the right transactions become available.”
