Renta 4 Sigrun, the corporate business of Renta 4 Bank, advised investment management firm Asterion, on its first deal in aviation.
The deal consisted of the acquisition of two widebody aircraft, one A350-900 on lease to Asiana Airlines and one 787-8 on lease to Air Europa from SMBC Aviation Capital. Renta 4 Sigrun will remain as lease manager on these leases.
The transaction pivots Asterion away from its typical portfolio of investments in telecoms and energy infrastructure investments, with its first acquisiton in the aviation leasing sector. It is also Renta 4 Sigrun's first deal with Asterion
Speaking to Airline Economics, Renta 4 Sigrun operating partner Eduardo Garcia Sansigre said the companies will further explore acquisitions in the near future, potentially closing another transaction within “weeks or months”. He said that while the sector was competitive at present, they were looking at narrowbody aircraft to have a healthy mix in the portfolio. In addition, the transaction would potentially be another mix of Airbus and Boeing, maintaining that mix.
MUFG acted as structuring agent and facility agent as well as joint lead arranger. HCOB Global Aviation were also joint lead arranger.