Copying and distributing are prohibited without permission of the publisher
Arik Air – ECA-backed bridge financing
23 March 2009
Afrexim and HSBC lead flight to quality
Read more:
[Aircraft]
[ECA]
[Arik Air]
[Coface]
[Euler Hermes]
[ECGD]
[US Ex-Im]
[Airbus]
[Boeing]
This transaction is an excellent example of the flexible financing package an export credit agency can deliver for a known credit. The $106 million bridge financing for Arik Air, the privately-owned Nigerian airline, arranged by HSBC and African Export-Import Bank (Afreximbank) stands out as being the largest bridge financing for an ECA-covered transaction to date in Nigeria. The final loan was not only a landmark ECA bridge financing in its own right but also set a benchmark for structuring such deals in Nigeria and other parts of Africa.
The borrower required the funding as part of its general fleet expansion plans to purchase one new Airbus...
You must be logged in to view this page. If you are already a registered user please log in. Alternatively, you can request a free trial or subscribe.
Already have an account?
Subscribe
Subscribers have unlimited access to all current and archive content. Start your
subscription today - click on the button below.
Free trial
Taking a free trial will give you access to the current issue for two weeks (excluding
some surveys and articles). Start your free trial today.
