BayernLB has provided PDP financing to support Phoenix Aviation Capital’s orderbook of 30 Boeing 737-8, managed by AIP Capital.
Acting as joint mandated lead arranger, the bank enabled an upsized PDP facility for this transaction, with this being BayernLB's second PDP financing transaction and the first PDP for the 737 MAX 8.
“We’re very pleased to continue supporting AIP Capital and to be part of their impressive growth story,” says Oliver Geldner, head of aviation & space at BayernLB. “This transaction follows a LEAP-1B engines deal last winter.”
In April, Phoenix and AIP announced the closing of a financing facility for its orderbook of 30 737 MAX 8 aircraft, with this facility providing up to $300 million in total commitments, with $175 million in immediate funding and a $125 million accordion.
As of the end of June, Phoenix had a fleet comprising of 60 aircraft assets, with a value of $2.8bn.