GTLK Europe’s 14 aircraft gain refinancing input from PK AirFinance
GTLK Europe, a subsidiary of Russia’s State Transport Leasing Company (known for its Russian acronym GTLK ), has concluded a US$340 million refinancing debt facility secured by a portfolio of 14 aircraft, which includes five Airbus A321-200s, six Boeing 737-800 and three A319s leased to Aeroflot, Globus (S7 Airlines), Germania and Bulgarian Eagle. The deal is a new relationship for PK AirFinance with a Dublin-based subsidiary of Russia’s largest leasing company.
PK AirFinance, a GECAS company, was the mandated lead arranger of the transaction and has provided the financing together with Credit Agricole CIB acting as co-arranger of the loans secured by the Aeroflot aircraft. PK AirFinance also acted as Agent and Security Trustee of the facility.
“Understanding our requirements, PK AirFinance offered customised solutions to GTLK Europe. Tools, proposed by PK AirFinance, will promote business development in our company,” Roman Lyadov, chief executive of GTLK Europe reveals.
“We’re delighted to have established this new relationship with GLTK Europe,” explains Paul Meijers, president of PK AirFinance. “We look forward to continue supporting GLTK as their portfolio expands.”
PK AirFinance, a GECAS company, is a provider and arranger of asset-based financing of commercial aircraft, serving airlines, aircraft traders, lessors, investors, financial institutions and manufacturers. GE Capital Aviation Services (GECAS) is a world leader in aviation leasing and financing. GECAS owns or services a fleet of more than 1,900 aircraft (1,552 fixed wing/350 rotary) in operation or on order, and also provides loans collateralised on an additional 320 aircraft. GECAS serves approximately 250 customers in more than 75 countries.
GTLK Europe DAC is an international leasing company based in Dublin, Ireland. The company’s main activities include leasing, trading, remarketing, asset management, as well as consulting on commercial aircraft and ship transactions. GTLK Europe, a wholly owned subsidiary of GTLK, owns and manages a portfolio of air and sea assets worth more than $1.9 billion. The portfolio includes 56 narrow-body and wide-body aircraft and 15 ocean vessels.
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