Intesa and UniCredit to finance UTair for the acquisition of a new ATR fleet - UniCredit
UniCredit and Intesa Sanpaolo (Paris Branch) have recently signed an ECA Facility Agreement for the number one Russian domestic Airline UTair Aviation JSC, to finance its acquisition of a fleet of 20 new ATR 72-500 regional aircraft. The transaction is valued at US $ 426 million.
UniCredit and Intesa Sanpaolo acted as co-mandated lead arrangers and sole underwriters, for 50% each. UniCredit is acting as ECA Agent, SACE Agent and Security Trustee. Intesa Sanpaolo is acting as Coface Agent.
The deal has a tenor of 13.5 years and is 95% supported on a fifty-fifty basis by French export credit agency Coface and Italian export credit agency SACE.
