TrueNoord agrees new Term Loan with existing finance partner, BayernLB, as business continues to thrive

“It is a pleasure to work with BayernLB’s efficient and professional team again. We appreciate their ongoing trust in us and look forward to further extending our collaboration in the future” comments Joram Lietaert Peerbolte, COO & General Counsel, TrueNoord.

TrueNoord has secured a new five year Term Loan with BayernLB. The Term Loan sees TrueNoord reinforce their strong working relationship with the Bavarian and German financier, following the announcement of their first provision of capital to the lessor in April 2023, as part of a multi-lender Term Loan. The financing, which includes an accordion feature, will support TrueNoord’s ongoing business growth, funding new asset acquisitions and refinancing of certain aircraft. Legal advisers Clifford Chance acted on behalf of TrueNoord, Milbank represented BayernLB.

Paul Murphy, TrueNoord CFO, comments, “I extend my thanks to the BayernLB team and to my colleagues at TrueNoord for completing this transaction smoothly and swiftly. It is evidence of the strength of both teams that the Term Loan was successfully finalised so fast and effectively.”

Viktor Berta, BayernLB Director of Aviation & Space, adds, “We are very pleased to grow our relationship with TrueNoord and look forward to further opportunities to support this valued client of our Sector Aviation & Space. The transaction itself is a testament to our continuing commitment to the industry and enhanced capabilities as an aviation financier.”

“There is increasing interest from the finance community in regional aircraft transactions” adds Joram Lietaert Peerbolte, TrueNoord COO & General Counsel. “With a solid track record of successful acquisitions and management of our fleet, we have earned the reputation as a professional, experienced team who delivers with minimal risk. TrueNoord’s status continues to grow as we become an increasingly active participant in the sector and expand our portfolio with a considered and balanced approach.”

24 July 2024