Specialist regional aircraft lessor TrueNoord has secured a new five-year term loan with BayernLB. This agreement strengthens TrueNoord’s relationship with the Bavarian and German financier, following their initial capital provision in April 2023 as part of a multi-lender term loan. The financing, which includes an accordion feature, will support TrueNoord’s growth by funding new asset acquisitions and refinancing certain aircraft. Clifford Chance acted as legal advisers for TrueNoord, while Milbank represented BayernLB.
Paul Murphy, TrueNoord CFO, remarked, “I extend my thanks to the BayernLB team and to my colleagues at TrueNoord for completing this transaction smoothly and swiftly. It is evidence of the strength of both teams that the term loan was successfully finalised so fast and effectively.”
Viktor Berta, BayernLB Director of Aviation & Space, stated, “We are very pleased to grow our relationship with TrueNoord and look forward to further opportunities to support this valued client of our Sector Aviation & Space. The transaction itself is a testament to our continuing commitment to the industry and enhanced capabilities as an aviation financier.”
“There is increasing interest from the finance community in regional aircraft transactions,” added Joram Lietaert Peerbolte, TrueNoord COO & General Counsel. “With a solid track record of successful acquisitions and management of our fleet, we have earned the reputation as a professional, experienced team who delivers with minimal risk. TrueNoord’s status continues to grow as we become an increasingly active participant in the sector and expand our portfolio with a considered and balanced approach.”
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