Kenya Airways receives first 787, commences second phase of Afreximbank purchase transaction

Kenya Airways took (01-Apr-2014) delivery of its first Boeing 787-8 in Seattle and commenced the second phase of a USD1.9 billion aircraft purchase transaction arranged by the African Export-Import Bank (Afreximbank) on 01-Apr-2014. The phase includes delivery of nine 787-8s and one 777-300ER as part of a purchase transaction for 20 aircraft for which Afreximbank is the mandated lead arranger. The Boeing delivery financing, for which Afreximbank is the global coordinator, comprises a senior US Export-Import Bank guaranteed tranche and a commercial tranche. Afreximbank is also acting as the arranger and underwriter of the commercial tranche, while Citigroup Global Markets and JP Morgan Chase Bank are the arrangers for the senior US Ex-Im guaranteed tranche. The airline received 10 E190s in the first phase of the programme, which ended in Nov-2013. [more - original PR]