Cargolux Airlines International S.A. has closed a Japanese operating lease with call option (JOLCO) transaction for a Boeing 747-400ERF freighter aircraft.

The aircraft financing was arranged by DVB Bank SE, London Branch (“DVB”) and JP Lease Products & Services Co., Ltd (“JP Lease”). DVB Bank provided the debt while the equity was arranged and underwritten by JP Lease. Wilmington Trust acted as Agent and Security Trustee in the transaction. Allen & Overy represented Cargolux, K&L Gates acted for JP Lease while Norton Rose Fulbright acted for DVB and Wilmington Trust.

“After the inaugural JOLCO in January, this third transaction is the confirmation that Cargolux is an attractive name in the Japanese market. With this JOLCO, Cargolux is further diversifying its source of funding and I consider relying on that market for our future financing needs” says Maxim Straus, Cargolux executive vice president and chief financial officer.