Emirates has signed a $88.6 million financing agreement for the acquisition of the 16th of 21st Airbus A330-200 aircraft on firm order, Khaleej Times reported Thursday.
The aircraft, powered by Rolls Royce Trent Series engines, is scheduled to arrive in Dubai tomorrow following its delivery flight from Airbus Industries' headquarters in Toulouse, France, said the daily.
An Emirates press release was quoted by the paper as saying that the financing, structured as a 12-year finance lease, has been arranged by Citibank and guaranteed by the UK's Export Credit GUarantee Department, Germany's Hermes and France's Coface. The other leading banks involved are Kreditanstalt Fur Wiederaufbau, Norddeutsche Landesbank Girozentrale and DGZ.DekaBank-Deutsche Kommunalbank.
The export credit debt is financed at a fixed rate of 5.94 percent, while the mismatch loan is financed at a floating margin of 70bps over Libor, the release said – Albawaba.com
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