Investec Aviation Finance has provided $30m (€27.8m) of debt financing to Titan Aircraft Investments (TAI), as the lender continues to see strong demand for aviation debt.
The arrangement marks Investec’s first transaction with TAI, the dry-leasing joint venture between Titan Aviation Leasing, a subsidiary of Atlas Air Worldwide Holdings, and Bain Capital.
Bain Capital holds a 90% interest in TAI.
The senior secured debt facility enabled TAI’s acquisition of a 2002 vintage Boeing 747-400F aircraft on lease to Atlas Air.
Investec said the deal reflects ”the high levels of demand Investec is seeing for aviation financing following a strong 2023”. Last year, Investec closed $834m of aviation debt covering 67 aircraft, with the team having a particularly strong end to the financial year, providing over $250m of financing across several aircraft portfolios.
Joseph Barnwell, debt origination at Investec Aviation Finance, said: “This latest deal reflects a continuation of the demand we have been seeing for aviation financing. We were able to showcase our ability to meet very constrained timeframes and to provide financing at high Day 1 LTVs when comfortable with the credit profile of the lessee/obligor.
”It was a pleasure to work with Titan Aviation Leasing on this transaction and we hope this will be the start of more collaboration to come.”
Vamshi Rokkam, global head of finance at Titan Aviation Leasing, said: “Investec’s solutions-driven approach provided the framework for a speedy closure. We look forward to working together again in the future.”
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