Novus Aviation Capital Completes US$423m Financing Deal for Four Boeing 777-300ERs
The long-range wide-body aircraft will be leased to a leading European carrier
Novus Aviation Capital, the global aircraft leasing and financing company, announced today that it has secured a limited recourse facility of US$423 million with BNP Paribas and MUFG Bank to finance its order of four Boeing 777-300ERs (Extended Range).
The order, announced during the Farnborough Airshow in 2018, represents Novus’ first direct order with a manufacturer at a list price of $1.4bn. Scheduled for delivery in 2020, the four long-range wide-body twin-engine aircraft will be leased to a leading European carrier once operational.
Mounir Kuzbari, Managing Director at Novus Aviation Capital, said: “Completing this financing deal, with two of our key banking partners, further demonstrates Novus’ ambitious growth plans and our ability to raise long-term asset-based financing. This year marks Novus’ 25th anniversary and, as we have done from our very first day of operations, we continue to grow in what is a challenging and competitive sector. We have a strong pipeline with a diverse acquisition strategy and look forward to what the next 25 years brings us.”
Bertrand Dehouck, Head of Aviation for BNP Paribas, said: “BNP Paribas is thrilled to joint-lead on Novus’ behalf this long-term facility, financing its first ever direct order with a manufacturer. There are three key elements that make this deal significant: 1. It marks a substantial transformational phase for Novus Aviation Capital; 2. It helps Boeing secure a new direct customer; and 3. It supports the fleet expansion of a major European airline.”
Michel Dembinski, Head of Aviation for MUFG in EMEA, said: “Aviation is a sector where MUFG sees huge potential and we are committed to finding innovative solutions with key industry partners such as Novus in order to maximise the significant business opportunities that the sector offers.”
About Novus Aviation Capital:
Novus is an independent, privately-held aircraft leasing platform, focused on investing in commercial aircraft assets. Established over 25 years ago, the Novus team operates out of its six global offices in the Middle East, Europe and Asia. The company currently co-owns and manages aircraft-related projects worth about USD 4 billion.