On January 29, Cargolux Airlines International S.A. closed its first Japanese operating lease with call option (JOLCO) transaction for a Boeing 747-400 freighter aircraft.
Crédit Agricole CIB acted as overall arranger, facility agent, and lender, and DVB Bank is co-lender. Allen & Overy acted for Cargolux, while Norton Rose Fulbright acted for the lenders.
The transaction is the first of its kind for Cargolux on the selective Japanese market.
“We are pleased to have been able to close this transaction together with our partners within a very short time period,” says Maxim Straus, Cargolux Executive Vice President & CFO. “It reflects Japanese investors’ confidence in Cargolux and it opens further refinancing opportunities for our company. We see the JOLCO as the perfect complement to our existing finance portfolio.”