Nordic Aviation Capital (NAC) has completed the closing of the first ever turboprop JOLCO financing for a lessor. The aircraft, an ATR72-600, was delivered to NAC in May, and financed with a Japanese Operating Lease with Call Option (JOLCO) arranged by FPG AIM and with the equity arranged and underwritten by FPG. The senior loan was arranged by DVB Bank and Korean Development Bank, which are also the lenders together with the Development Bank of Japan in this landmark transaction. Clifford Chance acted as advisers for Nordic Aviation Capital and Nishimura & Asahi for FPG whilst Allen & Overy represented

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