Hamburg Commercial Bank (HCOB) has announced the successful closing of its first primary transaction, providing a senior secured structured financing for JP Lease Products & Services (JLPS) in respect of four mid-life A320s on lease to an unnamed Latin American carrier.
Frederic Mireur, head of corporate finance at JLPS, said of the deal: “It was key for all parties to complete the four aircraft drawdowns just before the peak summer season of our airline client. HCOB worked fast and efficiently to commit long-term debt capacity and to provide certainty of execution in a record time. We are very grateful for what has been accomplished together for our first transaction.”
HCOB’s Global Aviation segment is an important part of the bank’s business diversification
strategy and provides structured asset-backed and corporate financing to support lessors, airlines and OEMs (Original Equipment Manufacturers). The business will also finance across the aviation and aerospace sectors, including flight trainings, airport ground handling, slots, gates, maintenance facilities, and aviation supply chains and will also selectively invest in capital market products.
Richard Moody, head of HCOB Global Aviation, added: “We launched the business in October 2023 from scratch and, having completed secondary transactions, have now closed our first primary transaction as we continue to grow our business. We would like to thank JLPS for providing us with this opportunity to support them and look forward to developing this relationship further.”
