Flynn O’Driscoll advises on US$275 million Term Loan18 April, 2023
Flynn O’Driscoll was pleased to act as Irish counsel to TrueNoord and financiers (MUFG Bank, Ltd., BayernLB, Cathay United Bank, Absa Corporate & Investment Banking, Morgan Stanley Bank, N.A., and Umpqua Bank) on a new five-year Term Loan of US$275 million.
The facility will be used by TrueNoord to expand their existing group of aircraft assets and to finance a well-diversified portfolio of 31 owned regional jet and turboprop aircraft currently on lease to 13 different airline customers based in 11 countries.
“With the successful closing of this secured long-term financing TrueNoord has been able to further increase its group of relationship banks supporting the continued growth of the business. We have broadened our financing resources and the facility gives us the ability to aim for further market opportunities, like portfolio transactions for new and used aircraft”, comments Anne-Bart Tieleman, CEO of TrueNoord.
For more information: https://www.truenoord.com/truenoord-secures-us275-million-term-loan-to-support-balanced-growth-trajectory/
The Flynn O’Driscoll team included Managing Partner James Duggan (Aviation and Asset Finance), Stephanie Guidi (Aviation and Asset Finance) & Daniela Martyna (Aviation and Asset Finance).