GTLK Europe closes USD265m refinancing jointly arranged by DVB Bank (London Branch), PK AirFinance and Credit Agricole CIB

GTLK Europe has refinanced three 2015 vintage Boeing 777-300ER aircraft, all subject to long term leases with Aeroflot. The facility was underwritten by DVB Bank SE, PK AirFinance, a GECAS Company, Credit Agricole CIB, The Korea Development Bank and NEC Capital Solutions Limited. PK AirFinance acted as Agent and Security Trustee of the facility.

“GTLK Europe DAC is delighted to close our third refinancing transaction in the space of just over 7 months. In particular we are pleased to add additional banking relationships now in Germany, Japan and Korea. This complements our existing international banking relationships in the United States, China and France, further demonstrating institutional confidence in our company. This is backed by our Groups ratings (S&P BB-/Fitch BB/ Moody’s Ba1) and our solid performance.” Roman Lyadov (CEO)

Allen & Overy acted as borrower counsel, whilst Clifford Chance acted as lenders counsel.