CATHAY PACIFIC CONCLUDES A SALE-AND-LEASEBACK TRANSACTION

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By TESTCustomwebLP TESTCustomwebLP August 17, 2011 19:42

CATHAY PACIFIC CONCLUDES A SALE-AND-LEASEBACK TRANSACTION

Deucalion Capital X Limited, an investment fund advised by DVB Bank SE (DVB), has acquired six Rolls-Royce Trent 772 powered A330-300 aircraft from Cathay Pacific Airways and leased them back on long-term leases. The six aircraft entered Cathay Pacific before 2001.

GE Japan Corporation has provided senior debt financing. PK AirFinance acted as security trustee. SkyWorks Capital Asia acted as an advisor to Cathay Pacific.

Cathay Pacific Director Corporate Development James Barrington said: “This is a milestone transaction which will help protect our asset exposure on our A330 fleet. The deal is important to us as Cathay Pacific has 48 A330 aircraft, which is the world’s largest A330 fleet, and has another 19 of them on order for delivery by 2015.”

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By TESTCustomwebLP TESTCustomwebLP August 17, 2011 19:42
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