GTLK Europe closes $265m refinancing jointly arranged by DVB Bank, PK AirFinance and Credit Agricole CIB

Darren Wood
By Darren Wood June 12, 2019 10:08

GTLK Europe closes $265m refinancing jointly arranged by DVB Bank, PK AirFinance and Credit Agricole CIB

GTLK Europe has closed a $265m refinancing jointly arranged by DVB Bank (London Branch), PK AirFinance and Credit Agricole CIB.

The firm has refinanced three 2015 vintage Boeing 777-300ER aircraft, all subject to long term leases with Aeroflot.

The facility was underwritten by DVB Bank SE, PK AirFinance, a GECAS Company, Credit Agricole CIB, The Korea Development Bank and NEC Capital Solutions Limited.

PK AirFinance acted as Agent and Security Trustee of the facility.

GTLK Europe CEO Roman Lyadov said: “GTLK Europe DAC is delighted to close our third refinancing transaction in the space of just over 7 months. In particular we are pleased to add additional banking relationships now in Germany, Japan and Korea.

“This complements our existing international banking relationships in the United States, China and France, further demonstrating institutional confidence in our company. This is backed by our Groups ratings (S&P BB-/Fitch BB/ Moody’s Ba1) and our solid performance.”

Allen & Overy acted as borrower counsel, whilst Clifford Chance acted as lenders counsel.

Darren Wood
By Darren Wood June 12, 2019 10:08