Tamweel Aviation Finance (TAF) has closed the financing of the third of a three-A321-200 new aircraft facility for Avation, the London LSE listed and Singapore based lessor.

All three aircraft are on long-term operating leases with fast-growing Vietnamese low-cost carrier VietJet Air.

TAF is the finance leasing platform managed by Novus Aviation Capital (Novus) which brings together a partnership of Airbus, the Development Bank of Japan (DBJ) and Norddeutsche Landesbank Girozentrale (Nord/LB) to provide attractive high LTV mezzanine financing to the world's airlines and lessors for Airbus products. Having just completed three years of successful operation, TAF has grown to a portfolio size of more than $1 billion of assets by market value.

“We are very pleased to add Avation to the growing list of customers of Novus dedicated financing platform,” said Mounir Kuzbari, managing director at Novus.

"A key driver of Avation's profitability is the overall cost of finance and the amount of leverage. TAF's mezzanine facilities are a useful leverage tool for transactions of this nature," said Jeff Chatfield, executive chairman at Avation. - TradeArabia News Service