Investec Aviation Finance has acquired a Boeing 787-10 Dreamliner aircraft from Aergo Capital. The aircraft is valued at over $110 million and is on long-term lease to Singapore Airlines. The acquisition was underwritten by Investec and was supported by debt and equity co-investment from longstanding institutional partners of the business.
Commenting on the acquisition, Clayton Woollgar, Investec Aviation Finance, said: “This acquisition is a showcase of our ability to leverage our deep syndication network in order to secure competitive capital. The result is that we’ve been able to add a new-tech widebody with one of the world’s leading airlines to our fleet, and also to provide attractive risk adjusted returns to our investment partners. Aergo is a longstanding and valued client of our business, and we look forward to building on our track record with them in the near future.”
Thrilled at completing the transaction, Fred Browne, Chief Executive Officer, Aergo Capital, said: “As always both Singapore Airlines and Investec were highly professional partners in this transaction, resulting in a smooth closing process. I would like to extend my thanks to all of those involved in the execution of this transaction and we look forward to dealing with both parties in the future.”
Watson Farley & Williams LLP represented Investec on the acquisition. Clifford Chance LLP represented the senior lenders.