Novus Aviation Capital’s Tamwheel Aviation Finance has completed arrangements to provide a secured second lien debt for Asiana Airlines, which will be used to finance two new Airbus aircraft.
The A350-900 and A321neo aircraft, to be delivered in October and December respectively, maark what Novus Aviation Capital describes as a ‘a milestone in Asiana Airlines’ strategic initiative to modernize and enhance its fleet’.
Japan’s MUFG bank and the Sumitomo Mitsui Banking Corporation (SMBC) are the senior financiers in a transaction described by Novus as showcasing ‘[their] comprehensive ability to structure and manage complex aviation financing alongside established partners in the industry’.
Welcoming Asiana Airlines as a new customer to Novus and Tamwheel Aviation Finance, senior vice president of Novus Aviation Capital Yuana Sung commented: “The unique combination of the aircraft types and the involvement of key stakeholders in this transaction” represented an “appealing scenario” for both Novus and Tamwheel, “recognized as one of the industry’s leading providers of secured second lien loans”.