MUFG, one of the world’s leading financial groups based in Japan, has provided a $2.1 billion bridge facility to Saudi-based aircraft lessor AviLease for the acquisition of Standard Chartered’s aviation leasing platform. MUFG acted as underwriter, bookrunner, mandated lead arranger and hedging bank.

AviLease is a recently-established global aircraft lessor which is wholly-owned by Saudi sovereign wealth fund PIF (Public Investment Fund).

MUFG supported AviLease in its first acquisition financing, which relied on a group of four international leading banks to ensure optimal structuring and execution.

Following the takeover, AviLease will own and manage 167 aircraft on lease to 46 airlines globally, accelerating its plans to become a top-10 global lessor by 2030.

Phil Roberts, Head of Global Corporate and Investment Banking, MUFG EMEA, said: "We are delighted to have partnered with AviLease in this milestone transaction that supports their ambitious growth plans."

"The unique combination of our aviation sector leadership, strong regional presence in the Middle East and proficiency in complex M&A financing positioned MUFG as a strong partner to support AviLease on this important transaction," stated Elyas Algaseer, Head of Global Corporate and Investment Banking, Mena.

"AviLease is one of the key players established by PIF to support the KSA’s Aviation sector. MUFG is honoured to have supported AviLease on this successful and landmark transaction which has placed Saudi Arabia amongst the top players in the global aviation market," stated Algaseer.

"Using the strength of our global aviation platform, we look forward to continuing our partnership with AviLease and PIF to aid the further development of the industry in KSA," he added.

AviLease CEO Edward O'Byrne said: "Today marks an important milestone for AviLease. With the completion of this acquisition, we are strengthening our position in the global aircraft leasing sector, in line with our ambition to become a top-10 global lessor by 2030."

"Through the expanded scale and synergies, we aim to accelerate our path towards an investment-grade rating. We are pleased to welcome our new colleagues to the AviLease team," he added.

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