Regional aircraft lessor TrueNoord has secured a new Term Loan with Deutsche Bank. The financing will support the lessor’s ongoing business growth and fleet expansion and see TrueNoord welcome Deutsche Bank as a new banking partner.
Legal advisor Clifford Chance acted on behalf of TrueNoord, whilst Milbank represented Deutsche Bank.
Anne-Bart Tieleman, TrueNoord CEO, commented: “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.”
The aircraft lessor continues to see strong demand for regional jet and turboprop aircraft across all markets and is expanding the business in a “balanced and measured way,” Tieleman added. TrueNoord’s fleet of new and young in-production aircraft covers different models in the 50 – 150 seat class, including Embraer, Airbus, ATR, MHI-RJ, and De Havilland Canada.
“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,” Tieleman said.
Image credit: TrueNoord
