Aergo Capital has successfully closed a warehouse facility with Investec Bank to finance aircraft transactions. The facility will be used to raise senior debt against on-lease commercial aircraft still to be acquired.
Commenting on Aergo’s financing activities, Stan Barnes, Chief Financial Officer of Aergo Capital, said, “We are delighted to diversify Aergo’s funding sources through this new facility with Investec. It is a clear vote of confidence in the Aergo portfolio, platform and business model.”
David Minty, head of aviation finance Africa at Investec Bank, remarked, “It is through our long-standing relationship with Aergo and understanding of their requirements that we were able to structure a bespoke facility around their needs. We are pleased to again be partnering with Aergo to help facilitate the growth of their aircraft portfolio.”
Other institutions who have provided funds include Deutsche Bank, PK Airfinance, DVB, Export Development Canada and Korean Development Bank. Aergo continues to receive support from existing debt partners and is pleased to work with new lenders as the portfolio continues to grow.
Smith, Gambrell & Russell (English counsel) acted for Aergo Capital and Vedder Price acted for Investec.Date: May 10, 2017