10 Apr 2025
#2 April 2025: Irish Aircraft Leasing Newsletter
ACIA Aero Leasing Completes ATR 72-600 Delivery to Braathens, Sweden
ACIA Aero Leasing has delivered a 72-seat ATR 72-600 to Braathens under a leasing agreement, marking Braathens' 15th ATR in its active fleet. The aircraft will be operated on behalf of SAS Scandinavian Airlines through an ACMI contract. ACIA CEO Mick Mooney welcomed Braathens as a new lessee, citing the airline’s rich regional heritage and strong Scandinavian market presence as aligned with ACIA’s commitment to supporting regional connectivity across Europe.
Avolon Successfully Prices $850 Million in New Notes
Avolon Holdings Funding Limited, a subsidiary of Avolon, has priced a private offering of US$850 million in 5.375% senior unsecured notes maturing in 2030. These notes are fully guaranteed by Avolon and select subsidiaries, and proceeds will be used for general corporate purposes, including potential debt repayment. The successful pricing underscores Avolon’s strategic financial planning and access to competitive capital amidst dynamic market conditions.
SMBC Aviation Capital Raises $500 Million with Successful Bond Offering
SMBC Aviation Capital’s finance arm has closed a $500 million bond deal in five-year senior unsecured notes with a 5.10% coupon. The bond, guaranteed by SMBC Aviation Capital, was priced at US Treasuries +103 basis points and attracted strong investor interest. This marks SMBC Aviation Capital’s tenth bond issue since 2016, further reinforcing its strength in capital markets. CFO Aisling Kenny attributed the strong demand to investor confidence and the company’s strategic funding approach.
TrueNoord Increases Term Loan Facility to Support Growth and Expansion
TrueNoord has successfully upsized and syndicated a five-year Term Loan facility with BayernLB, with new lenders Airbus Bank GmbH and Hamburg Commercial Bank (HCOB) joining the transaction. The facility will support a portfolio of 21 aircraft, including turboprops and Embraer jets, to power TrueNoord’s growth. COO & General Counsel Joram Lieteart Peerbolte praised the professionalism of the financiers and noted the transaction reflects ongoing market confidence in TrueNoord’s long-term strategy and investment potential.
Acumen’s Take
On ACIA Aero’s Delivery to Braathens
ACIA’s placement of an ATR 72-600 with Braathens highlights sustained demand for regional turboprops and efficient ACMI solutions in the European market. The deal strengthens ACIA’s customer base while supporting Braathens’ fleet growth in partnership with SAS.
On Avolon’s $850 Million Note Issue
Avolon’s ability to secure nearly $1 billion in funding at a competitive rate demonstrates strong investor trust and robust liquidity planning. The move enhances its capital structure and provides flexibility to manage refinancing needs or seize market opportunities.
On SMBC Aviation Capital’s Bond Offering
SMBC’s tenth bond issue since 2016 cements its track record as a reliable capital markets participant. The oversubscribed offering and favourable pricing affirm both its financial health and the continued investor appetite for quality lessors.
On TrueNoord’s Syndicated Facility
TrueNoord’s expanded loan facility, with new banking relationships and a diversified aircraft portfolio, signals strategic scaling. The transaction reinforces its credibility in the regional leasing segment and highlights successful relationship-building with European financial institutions.
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