Lessor TrueNoord secures new term loan

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TrueNoord-air
(IMAGE: TrueNoord)

MRO DubaiSpecialist regional aircraft lessor TrueNoord has secured a new term loan with Deutsche Bank. The financing will support TrueNoord’s ongoing business growth and fleet expansion, and sees them welcome Deutsche Bank as a new banking partner. Legal advisers Clifford Chance acted on behalf of TrueNoord, Milbank represented Deutsche Bank. Terms of the deal were not disclosed.

Anne-Bart Tieleman, TrueNoord CEO, said: “With the successful closing of this secured financing we are further expanding the group of banks supporting the business and are very pleased to add Deutsche Bank to this list of respected financiers. Driven by a strong balance sheet, experienced shareholders and an accomplished management team, we are growing and becoming an increasingly active participant in the sector.

“We continue to see strong demand for regional jets and turboprop aircraft in all markets and are exploring a number of opportunities and portfolio transactions as we further expand the business in a balanced and measured way. Widening our financing base with new lenders is an important part of our growth path as we work closely with our existing and new customers to support them in their own development ambitions.”

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