1-Jun-2011 12:29 PM

RwandAir completes funding for B737-800s with USD59m Ex-Im loan

RwandAir CEO John Mirenge stated the carrier has secured funding for its two B737-800s, due to be delivered in 2H2011, following a USD59 million loan by the US Ex-Im Bank (Aviation Exchange, 31-May-2011). "The Ex-Im loan is the tail-end funding. We already paid the PDP [pre-delivery payment], and that is coming in to basically clear out the whole amount," he said. The Eastern and Southern African Trade and Development Bank (PTA Bank)acted as lead arranger with HSBC as co-arranger. The two aircraft have a combined list price of USD162 million, with Mr Mirenge stated the carrier secured "very good discounts" on the deal, with government and bank sources providing additional funds.

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