31-Aug-2012 7:49 AM

Doric’s asset management portfolio grows to 30 aircraft with delivery of 13th A380 under management

Doric Group took delivery (30-Aug-2012) of its 13th A380 under management. The aircraft was acquired by the German closed-end fund SKY CLOUD IV (a GmbH & Co KG type special purpose vehicle) on 29-Aug-2012. The A380 is on lease to the Emirates for a period of 12 years and is the carrier's 23rd A380. The purchase price of the aircraft was USD234 million. The long-term loan of USD145 million was provided by a banking consortium led by NordLB. Norton Rose acted as legal advisors on the leasing transaction. The lending banks were advised by Vedder Price. The current aircraft portfolio under management of Doric comprises 30 aircraft valued at USD4.6 billion. [more - original PR]

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