Hannover-based Nord/LB, one of the largest commercial banks in Germany, has joined Tamweel Aviation Finance (TAF), Novus Aviation Capital’s integrated financing platform offering turnkey alternative financing solutions to airlines and aircraft leasing companies. TAF was launched in September 2013 with a mandate to facilitate the funding of aircraft acquisitions, providing secured junior and mezzanine loans to airlines for all Airbus aircraft, with a focus on the twin-aisle segment, including the A380. TAF is managed by Dubai-based Novus Aviation Capital.
“We are very pleased to welcome our long-standing partner Nord/LB as a strategic partner to grow the TAF platform in providing alternative financing solutions to the aviation market,” said Mounir Kuzbari, Managing Director at Novus. “Following the successful first closing for Emirates, we are close to announcing another large trade with a leading European carrier.”
Novus structured and arranged the financing of three A380-800s for Emirates Airlines, whereby a global banking syndicate provided a senior debt tranche and TAF underwrote and funded the subordinated debt tranche.
“From the very beginning we have been thrilled about the idea of a junior loan fund in cooperation with experienced strategic partners. TAF combines the collective insight of parties coming from different segments of the aviation community and therefore results in a reasonable approach to a complex product,” said Tammo Reimann, Senior Director at Nord/LB.