REQUEST FOR  FINANCING 

                                       FIVE NEW AIRBUS A320 FAMILY AIRCRAFT for Air Cote d’Ivoire

• In the framework of its modernisation and expansion program, Air Côte d’Ivoire (“ACI”) has signed a firm order with Airbus for five (5) new aircraft (A320 family). The acquisition of these aircraft, of which the first two (A320-CEO) were delivered respectively in July 2017 and November 2017, is supported by a financial lease structure via a Special Purpose Vehicle (“SPV”) domiciled in Mauritius.

• The project is in line with the African Development Bank’s High 5 priorities in terms of (i) Integrate Africa by improving air connectivity in West and Central Africa region and boosting intra-regional trade. Accordingly, the board of the Board of Directors of the African Development Bank (AfDB) has approved in November 8^th 2017 a Public Private Partnership (PPP) financing to support ACI’s expansion (“the Financing”).

• The Financing includes: (i) a public tranche debt of € 51,2 million, (ii) a private tranche debt of USD 50 million from AfDB private sector alongside USD 111,5 million to be funded by commercial banks, (iii) a technical assistance from the African Development Funds (“FAD”), and (iv) an AfDB’s Partial Risk Guarantee of USD 20 million to cover the non-payment risk from ACI to the SPV (“PRG”).

• In order to implement the Financing, USD 111,5 million remain to be raised through private lenders. ACI is seeking the participation of commercial banks or financial institutions endowed with a strong and proven track record in aviation financing in order to structure and co-arrange with AFDB’s private sector part of the tranche devoted to commercial banks or financial institutions (“the Transaction”).

• The selected commercial bank or financial institution (the “Co-arranger”) will be assigned the following targets on the basis of an agreed specification with AfDB: (i) propose a unique financing structure for the five aircraft acquisition, (ii) raise between USD 80 million and USD 111.5 million from other banks and financial institutions and coordinate their stakes, (iii) participate to the transaction as a lender (iv) obtain a tenor between 10 and 12 years, as well a competitive margin based on the PRG. ACI is willing to consider and analyse innovative offers and financing structures in USD, EURO or in local currency (“XOF”).

• This request for expressions of interest aiming at receiving from banks or financial institutions: (i) arrangement fees proposal (ii) a descriptive summary of relevant track record in aircraft financing including a detailed resume of its dedicated staff, (iii) any additional services (currency and rate hedging solution, various agent roles…) intended to support the contemplated transaction.

• Due to confidentiality, banks or financial institutions are invited to obtain relevant information regarding the Financing, ACI’s financial documents, the request for expressions of interest general conditions by sending a request to the following e-mail address: ACI_5A320financing@aircotedivoire.com

• Any additional queries should be addressed to ACI by e-mail to the following address: ACI_5A320info@aircotedivoire.com. Kindly note that each related answer will systematically be communicated to all bidders.

• Offers should be send by e-mail in PDF format, secured by a password, no later than Friday 16 March 2018 at 16h00 (TU) at the following address: ACI_5A320financing@aircotedivoire.com.

• The offers opening day is schedule to be held on March 20^th 2018 in ACI’s offices located in Republic of Côte d’Ivoire, Abidjan, plateau, Botreau Roussel, Citibank building, Bureau Roussel, 2^nd floor, in the presence of each banks or financial institutions appointed representative, holding its password for the offers opening purposes.

• The evaluation committee will analyse each written proposal and prepare a shortlist of three banks or financial institutions according to the following criteria: (i) experience in aircraft financing and (ii) the most competitive co-arrangement fees. Negotiations shall be initiated with the shortlisted banks to complete the appointment of the Co-arranger according to an agenda which will be communicated during on the offers opening day.

• https://www.aircotedivoire.com/en/la-compagnie/news/