Abu Dhabi-based Al Jaber Aviation (AJA), a leading provider of VIP aviation services in the region, said it has successfully closed the financing for two Embraer Legacy 600 private jets.
The company sealed the club deal with the participation of three leading local and international banks. Al Hilal Bank acted as the security trustee, security agent and investment manager, while National Bank of Abu Dhabi was book runner and BNP Paribas the arranger.
Mohammed Al Jaber, CEO of Al Jaber Aviation, said the deal was initiated and completed despite the consequences of the global financial crisis, 'and is a reiteration of the financial community's trust in Al Jaber.'
'The financing deal will complement our operational plans and acquire a full capacity fleet. We are diversifying our fleet and will soon have different types of aircraft suiting the needs of our most discerning guests,' he noted.
The financing package extended a 10-year tenure to finance the purchase price of the aircraft, which have been delivered already to AJA.