Aircraft & Manufacturers
Two operators placed orders for Airbus aircraft in July marking the manufacturer’s first orders in . ...
  Airlines business
ATR today announces the sale of two ATR 72-500 aircraft from its asset management portfolio to Hi .. ...
Gulfstream delivered 30 business jets during the third quarter, one more unit than the same period . ...
Hãng hàng không Quốc gia Vietnam Airlines cho biết sẽ khai thác trở lại đường bay Hà Nội - Tuy Hoà . ...
Airports - Infrastructure
Friday, 23/09/2020, 01:13:41 AM
Commercial debt in vogue as CA‐CIB tops deal
Comment Comment |  Send To E-mail Send To E-mail |  Print Print
Alex Derber 10/07/2017 Commercial loans dominated air finance activity last year, according to Airfinance Journal’s 2016 Market Report, although capital markets could have an increasingly

important role in 2017, says the head of asset finance at Crédit Agricole Corporate and Investment Bank (CACIB).

“If airlines and lessors outside the US are prepared to be publicly rated the share of unsecured capital markets [deals] for nonUS issuers will increase,” says Jose


Excluding operating leases, commercial loans accounted for 56% of the 376 deals reported to Airfinance Journal for 2016, while capital market financing accounted

for 22%.

CACIB has already completed 13 capital market deals this year, compared with eight during the whole of 2016.

Abramovici notes that capital market financing centered on the US market last year, partly due to the spread of EETCs, and the report shows that two US banks,

Citigroup and Goldman Sachs did indeed arrange the most capital market deals in 2016.

However, two French banks, CACIB and BNP Paribas, topped the overall ranking for number of air finance deals arranged, recording 68 and 66, respectively.

“We have a broad geographical footprint and we have a broad product footprint,” comments Bertrand Dehouck, managing director – head of aviation EMEA, BNP


Both BNP Paribas and CACIB showed a similar geographic split in their activities: CACIB concluded 23 deals in Europe, 21 in North America, 14 in Asia and 10 in the

rest of the world; BNP did 23 in Europe, 21 in North America, 16 in Asia and six in the rest of the world.

Those ratios contrast with a global aircraft backlog weighted towards Asia, and with recent deliveries, which have been 31% to Asia, 30% to Europe and 29% to

North America, according to Airfinance Journal’s Orders and Deliveries Report Q1 2017

Nonetheless, Dehouck expects BNP’s geographic spread to remain broadly similar going forward, and says the bank won’t start pushing one particular region.

“Asia is taking a lot of aircraft but China is selffinancing, so once you remove their deliveries it’s not that much more new aircraft in Asia.”

Being “completely product agnostic”, Dehouck is unwilling to speculate about which forms of finance might gain or lose popularity this year, although he recognises

that commercial loans will remain popular.

BNP Paribas arranged 37 air finance loans in 2016, while CACIB did 35.

“There is abundant liquidity from traditional aviation banks, and also new investors into loans such as insurance companies, asset managers, as well as regional

banks,” says Abramovici.

In the near future, however, he also expects to see more assetbacked securities for midlife aircraft (a category many banks struggle to finance), as well as more

secured and unsecured private placements by lessors.

Nguồn: Airfinance Journal

Comment Comment |  All Comment
Other news [Back]
 Why orders slump wont hurt Paris air show  (19/06/2017)
 First Pacific May Submit Offer for Manila Airport Valued at $2.5 Billion  (03/11/2011)
 Dubai Airport Studies `One-Stop Check-in, Security System to Speed Trips  (03/08/2010)
 Insured for delayed flight  (24/05/2010)
 Airline Bonds Rally as Continental, UAL Merge: Credit Markets  (07/05/2010)
 PPP promoted as aviation sector development solution  (26/04/2010)
 Yudhoyono officiates international airport  (07/08/2009)
 Worldwide airport traffic remains stubbornly low in May-2009  (03/07/2009)
 Serco wins £245m Dubai airports deal  (25/06/2009)
 MHI Aerospace Vietnam Co to open aircraft component factory  (27/03/2009)
 Airplane maintenance company opens doors  (03/03/2009)
 Work starts on International airport on Phu Quoc Island  (27/11/2008)
 Vietnam Airlines to hire foreign consultant for airport project  (21/11/2008)
 VALC News
On 19 Dec 2012, VALC successfully took delivery of the A321-231 aircraft with MSN 5418. This is the ...
Chi tiết
At 17:00 5th September, 2012 local time in Hamburg, Vietnam Aircraft Leasing Company (VALC)   ...
PRESS RELEASE  23-08-2012 11:12am
VALC delivered the first A321-200 to Vietnam Airlines.
Chi tiết
On November 5th, 2011, Vietnam Aircraft Leasing Company (VALC) took delivery of the EC155 B1 ...
VALC Valc, leasing, aircraft, plane, airlines, fastmoney, boeing, airbus, việt nam, airlines, viet nam, finance, investment Copyright © 2008 VALC.COM.VN
Back to top
Homepage  |   Contact  |   Make your homepage  |   Introduce VALC  |   RSS  RSS Feeds
Copyright © 2008 VALC.COM.VN. All Rights Reserved. Address: 6th Floor, No. 18 Ly Thuong Kiet Str., Phan Chu Trinh Ward, Hoan Kiem Dist., Hanoi, Vietnam.