Investec Aviation Finance closes Ivory Coast transaction

Eleanor Steed
By Eleanor Steed August 9, 2017 16:28

Investec Aviation Finance closes Ivory Coast transaction

Investec Aviation Finance has financed one new Airbus A320ceo for Air Côte d`Ivoire. The transaction, which closed on the July 14, 2017, saw Investec Aviation Finance provide senior debt funding to the airline and resulted in several firsts for the companies involved – Air Côte d`Ivoire received their first new Airbus aircraft through their first transaction with Investec Aviation Finance.

Commenting on the deal, the head of Investec Aviation Finance, David Minty said: “We are really pleased to have structured a bespoke solution which met our client’s specific requirements within a very short time frame.” The funding structure, which would usually take up to four months, was successfully implemented within a month.

Air Côte d`Ivoire, as the Ivory Coast’s national carrier, flies locally within the Ivory Coast and to 19 regional destinations in West and Central Africa with its fleet of ten aircraft. “We have been impressed by managements’ track record and their ability to implement the airlines well-defined business plan. As an African bank funding an African airline, we are proud to be part of the airline’s continued growth and progress,” added Minty.

General Abdoulaye Coulibaly, Chairman of Air Côte d`Ivoire, “Investec acted with promptness, efficiency, competence and as a real partner throughout the negotiation of the transaction, allowing us to take our first brand new Airbus A-320 right on time, despite the tight time frame.”

Eleanor Steed
By Eleanor Steed August 9, 2017 16:28