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PIA, ABN AMRO SIGN US$522 MLN LOAN DEAL FOR 3 B-777 AIRCRAFT.
KARACHI, June 1 Asia Pulse - Pakistan International Airline (PIA) and ABN AMRO signed loan financing arrangement for US$522 million to fund acquisition of three state of the art brand new Boeing 777-300 ER aircraft for the national flag carrier.
The financing arrangement comprises 12 year term loan facilities of $470 million supported by the Export Import Bank of United States and Pakistan government guarantee and 7 year commercial facilities of $62 million.
The agreement signing ceremony arranged by ABN AMRO Bank in Amsterdam was attended by senior members from ABN AMRO's Cross Border Structured Finance group including Marten Klessens, Global Head of Structured Funding & Investments, Paul Kranendonk, Global Head Cross Border Structured & Commodity Finance and Naveed A Khan, Country Executive, ABN AMRO Pakistan. Representing Boeing was Anil Patel. PIA team was led by M Abdul Aleem, Chief Financial Officer.
Klessens congratulated PIA for remarkable achievement which ...
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Source: HighBeam Research, PIA, ABN AMRO SIGN US$522 MLN LOAN DEAL FOR 3 B-777 AIRCRAFT.