Ex-Im Bank and AirFinance support Gulfstream in Nigeria and AgustaWestand in Colombia
AirFinance, financed three one Gulfstream G450 and two AgustaWestland deliveries in May.
The G450 was delivered to Azikel Air part of a Nigerian conglomerate. The two AW139 helicopters were bought by North Pole Investments, an aviation lessor in Panama City. North Pole Investors will lease them to Helistar, the offshore oil and gas operator.
“We are pleased to finance these quality aircraft for leading businesses in their respective countries,” said Tom Low, Managing Director AirFinance. “AirFinance values the relationship with these aircraft buyers and was able to work closely with them to provide the aircraft financing that fit their needs.”
Both loans were guaranteed by the US Ex-Im Bank and funded by Apple Bank. Italian export credit agency Servizi Assicurativi del Commercio Estero, S.p.A. (SACE), provided a guarantee a portion of AW139 financings.
“Obtaining financing in Nigeria with reasonable terms and conditions is very difficult,” said Dr. Azibapu Eruani, president Azikel Group. “Working with AirFinance to get Ex-Im backed funding has proven to be a successful option that has redefine our journey into achieving greater height in the aviation subsector of Azikel Group.” Azikel Group is a Nigerian conglomerate operating in dredging, reclamation, power generation, aviation, oil and gas and food production.
“This G450 delivery to Nigeria reflects the tremendous teamwork necessary to open up new markets and ensure the continued success of America’s aviation industry,” said Scott Neal, senior vice president Worldwide Sales and Marketing, Gulfstream. “It requires the support of Ex-Im Bank and financial institutions like AirFinance and Apple Bank to provide financial expertise and backing to make these deals happen. Together, we contribute to the general aviation industry’s $219 billion in economic output and 1.1 million jobs in the U.S.”
“Our experience with AirFinance was very good.” said Diego Galvis, Finance Manager at NPI. “They really helped us structure the credit with Ex-Im Bank the way we wanted it and also helped us all the way from preparing the documentation, approval process and disbursement of the credit.”
“Since the Ex-Im Qualified Advisor Program was announced in 2012, AirFinance has been able to support $478 million in additional general aviation sales through this Ex-Im program,” said AirFinance Managing Director Kirsten Bartok. “We have been able to expand our private public partnerships to include other Export Credit Agencies where we can add value by facilitating processes to assist aircraft buyers.”