BNP Paribas is lease arranger, ECA debt arranger and facility agent of an ECA-backed Japanese Operating Lease with Call Option (JOLCO) for two A321-200s delivered in June and July 2013. This transaction features Japanese equity combined with a 12-year ECA loan provided by Sumitomo Mitsui Trust Bank, fronted by Euler Hermes, the German Export Credit Agency, leading to a 100% financing for the airline at competitive costs. After a first transaction in 2011, this is the second time ECA-backed Japanese tax structures are successfully closed for Turkish Airlines. Turkish Airlines is the legacy flag carrier of Turkey and has been

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