VALC mandates Calyon for 05 ATR72-500 aircraft

VALC (Vietnam Aircraft Leasing Company) has mandated Calyon as sole arranger of the export credit financing of its 5 ATR 72-500 aircraft. These aircraft are scheduled to be delivered from April to December 2010. The Vietnam Government agreed to provide sovereign guarantee through the Ministry of Finance for the export credit.

BIDV (Bank for Investment and Development of Vietnam) will also join the deal as the commercial loan provider. Norton Rose and YKVN are acting for the lenders in this transaction while Lovells and Leadco are choosen to be counsel for VALC. All these 5 ATR aircraft will be leased to Vietnam Airlines. It is expected that the financing documents will be signed no later than Feb. 2010.