in Aerospace

BBAM and NBB close JOLCO transaction for BA A350-1000

Posted 29 August 2019 · Add Comment

BBAM Limited Partnership (BBAM) and Nomura Babcock & Brown Co., Ltd. (NBB) have closed a Japanese operating lease with call option (JOLCO) transaction with British Airways for an A350-1000.



Above:
A British Airways A350.
Courtesy British Airways / Stuart Bailey www.StuartBaileyPhoto.com


This is the first JOLCO closing in a $1.12 billion transaction combining senior secured enhanced equipment trust certificates (EETC) and JOLCO equity in relation to a number of new generation British Airways operated aircraft.

The transaction will provide financing for six A350-1000 aircraft and two A320neo aircraft. The deal allows the aircraft to be financed by the proceeds from the British Airways 2019-1 EETC certificates and JOLCO equity arranged by NBB and BBAM.

"BBAM structured the JOLCO element of this transaction and we are delighted to further build on our strong relationships with British Airways and IAG," said Steve Zissis, Chairman and Chief Executive Officer of BBAM. "The combination of EETC debt and JOLCO equity is an innovative structure that we have helped develop to provide our clients with flexible financing solutions."  

Citigroup was the sole structuring agent and joint bookrunner for the EETC deal. Credit Suisse was the other joint bookrunner. Deutsche Bank, Goldman Sachs and Morgan Stanley were the passive bookrunners.

BBAM is the structuring agent for NBB and the JOLCO equity investors.  

BBAM is the world's largest dedicated manager of investments in leased commercial jet aircraft providing over 200 airline customers in more than 50 countries with fleet and financing solutions over the last 30 years.

 

* required field

Post a comment

Other Stories
Advertisement
Latest News

Future Combat Air continues to drive economic advance across the UK

Seven companies representing the breadth of innovation across the UK have signed agreements to progress opportunities to work on future combat air concepts and underpinning technologies across Team Tempest.

BAE Systems and WAE partner on fast jet development

BAE Systems and Williams Advanced Engineering (WAE) have joined forces to explore how battery management and cooling technologies from the motorsport industry could be exploited to deliver efficiency and performance gains in the

CFMS study bolsters business case for regional electric aircraft

A new study from the Centre for Modelling & Simulation (CFMS), a not-for-profit specialist in digital engineering, has helped the aerospace industry move a step closer to the development of regional electric aircraft.

Horizon Technologies awarded Transformational Xtender SIGINT Technology Patent

Horizon Technologies was issued a patent (US 10,727,932 B2) by the United States Patent and Trademark Office (USPTO) on 28th July 2020, covering the company's fundamental Xtender technology, which allows the smallest UAVs and

BA's August schedule returns to more destinations

Throughout August, British Airways is resuming flying to more destinations, albeit with continued low frequencies while the impact of Covid-19 is still being felt across the globe.

Element and FRISA strengthen relationship with LTA

Element Materials Technology (Element) has been awarded an expansion to the scope of its existing 10-year long term agreement (LTA) with FRISA to include all three of FRISA’s major business units: Aerospace, Force VG, Forge SC and

Getac SK2606280920
See us at
DVD 2020