Aircraft Engine Lease Finance (AELF) has completed a $31 million loan with South Africa-based Absa Bank Group.
The loan is collateralised by an A330-300 on lease to South African Airways, which was recently acquired by AELF from a consortium of lenders including Deutsche Bank, Société Générale, and Crédit Agricole.
“Absa makes a great addition to our stable of lending partners, further empowering AELF to reliably commit to and close deals opportunistically,” said Joe Cirillo, chief commercial officer of AELF. “As we grow our portfolio, maintaining a small and familiar group of capital partners strengthens our ability to capture the anomalous value we identify in the market.”
Over the last 12 months, AELF has announced substantial borrowings from a number of global lending partners including Merchants Bank, Investec, Nedbank, and now Absa.