AWAS closes first JOLCO as part of multi-channel financing strategy

AWAS announced today that it has closed a JOLCO (Japanese Operating Lease with Call Option) financing relating to one Airbus A320 aircraft on lease to Aeroflot Russian Airlines, with Crédit Agricole Corporate and Investment Bank (CA CIB) as overall arranger, facility agent and security trustee. The equity portion of this first JOLCO secured by AWAS was underwritten by Financial Products Group, whilst the debt portion was provided by CA CIB and the Development Bank of Japan.

Frederic Mireur Head of Corporate Finance AWAS commented, “There are very few operating lessors who have successfully entered the JOLCO market and AWAS is very proud today to have closed on our first such structure. This achievement and our ability to tap the JOLCO market in the future is part of AWAS’ multi-channel finance strategy to avail our business of strong liquidity from a stable of resources.”

Wui Jin Woon, Corporate Finance Director AWAS remarked, “We would like to thank our partners at Crédit Agricole Corporate and Investment Bank, Financial Products Group, and the Development Bank of Japan. The market in Japan for high-quality JOLCO investments is currently strong and AWAS will continue to look at this channel for diversification of funding with our financing partners in the Asia-Pacific.”