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AviLease, the rising global aircraft lessor wholly owned by the Public Investment Fund (PIF), announced today the successful completion of its acquisition of Standard Chartered’s aircraft leasing business
RIYADH, November 2, 2023: AviLease, the rising global aircraft lessor wholly owned by the Public Investment Fund (PIF), announced today the successful completion of its acquisition of Standard Chartered’s aircraft leasing business. The $3.6bn landmark deal further cements AviLease’s position in the global aircraft financing sector.
With this acquisition, the combined business now owns and manages 167 latest technology, fuel efficient aircraft leased to 46 airlines worldwide.
The transaction pre-ludes a new era for AviLease, and that only 16 months after it was launched (July 2022).
The syndication of the bridge financing of $2.1bn committed as part of the transaction was successfully completed with strong support from a group of ten banks. AviLease thanksthe following banks for the funding provided on closing: Al Ahli Bank of Kuwait, Abu Dhabi Commercial Bank, First Abu Dhabi Bank, Mizuho Bank, Natixis and Standard Chartered Bank. They joined the initial underwriting banks BNP Paribas, Citibank N.A., HSBC Bank Middle East and MUFG Bank.
Edward O’Byrne, Chief Executive Officer, said: “Today marks an important milestone for AviLease. With the completion of this acquisition, we are strengthening our position in the global aircraft leasing sector, in line with our ambition to become a top-10 global lessor by 2030. Through the expanded scale and synergies, we aim to accelerate our path towards becoming a global industry leader. We are pleased to welcome our new colleagues to the AviLease team.”
The transaction was originally announced in August 2023.
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