Nordic Aviation Capital (NAC) closed its second Japanese operating lease with call option (Jolco) for one ATR72-600. The senior tranche of the loan was arranged by DVB Bank and Korea Development Bank (KDB). KDB, along with Development Bank of Japan, were also the lenders in the transaction.
The turboprop is on lease to Garuda. The Jolco is the second of three Jolcos NAC is due to close with Garuda for ATR72-600s. The third aircraft under the Jolco structure is expected close later this year. Allen & Overy acted for DVB Bank, while Clifford Chance advised NAC.
