November 8, 2018

TrueNoord secures further funding

TrueNoord has secured new investment from existing and new investors, bringing total equity available to nearly $400 million to expand the regional aircraft lessor’s aircraft portfolio and partially refinance the existing fleet.

The new investment complements a senior secured debt facility of $500 million that was announced in July.

Following the equity and debt raise, TrueNoord is targeting an acceleration of plans to substantially grow the existing fleet of 30 Embraer, Bombardier and ATR aircraft within the next five years.

New equity was raised from original investors Bregal Freshstream, BlackRock and Aberdeen Standard, alongside further investment from a number of new investors, including Capital Dynamics, Euro Private Equity and Flandrin, amongst others.

The $500 million secured debt facility was arranged and fully underwritten by Morgan Stanley, NordLB and Barclays.

TrueNoord focuses on the acquisition of relatively young aircraft with leases attached.