Crédit Agricole CIB has closed Viva Aerobus’ inaugural $165.45 million Balthazar-supported senior secured loan for the acquisition of three A321NEO aircraft delivering from Airbus, including the funding of the first aircraft shortly after signing. The second and third aircraft are scheduled for delivery later this year. This is the first Balthazar‑supported financing for an airline in the Americas.
Crédit Agricole CIB is acting as facility agent and security trustee and has arranged for a syndicate of banks including CIC and Banco Santander. The transaction benefits from a Balthazar non-payment insurance policy provided by a consortium of leading European insurers brokered through Marsh France.
“It is a great achievement for Viva to become the first airline in the Americas to successfully close this efficient financing structure called Balthazar, which was designed by Airbus and Marsh, with the participation of more than 20 entities worldwide, including Crédit Agricole CIB acting as Facility Agent, Crédit Industriel et Commercial and Banco Santander, Marsh and its panel of insurance companies, law firms and manufacturers, etc... With this financing structure, we are able to finance the next three A321NEO deliveries that Viva has scheduled for the remaining months of 2023,” says Juan Carlos Zuazua, Chief Executive Officer of Viva Aerobus. “We would like to thank all the people, more than 100, from the above-mentioned different entities that have participated in this “challenge” in order to make it happen, and, of course, the Viva team that has done an outstanding job”.
“We are pleased to close a Balthazar-supported financing for a new client of Crédit Agricole CIB on a new continent. In the field of insurance-covered products, this transaction strengthens the relationship with Marsh France and its consortium of leading insurers. Furthermore, we support Viva Aerobus’ fleet investments in new technology aircraft, in accordance with our bank’s policy,” says Florence Haziot, Executive Director at Crédit Agricole CIB in Paris
“We are delighted to arrange this landmark transaction for Viva Aerobus and to help them diversify their funding sources and support their long-term growth plans going forward,” says Thomas Jean, Managing Director, Senior Banker for Viva Aerobus at Crédit Agricole CIB.
Viva Aerobus is Mexico’s ultra-low-cost airline that operates one of the youngest Latin American fleets with 78 Airbus (A320 and A321).