KfW IPEX-Bank finances two A330s for Rwandan airline RwandAir
KfW IPEX-Bank is participating in the financing of two Airbus A330s for the Rwandan airline RwandAir. Working in conjunction with Deutsche Pfandbriefbank (PBB), the loan will be passed on to Eastern and Southern African Trade and Development Bank (TDB), RwandAir's external lender. KfW IPEX-Bank is assuming a 51% share and will act as arranger, Hermes agent and security trustee.
The bank-to-bank financing package for 85% of the total purchase price for both aircraft will enable the Rwandan airline to repay financing issued in September 2016. The transaction is protected by a 100% ECA guarantee, which is based on the guidelines in the Aircraft Sector Understanding (ASU) under OECD Consensus.
The two new aircraft are the East African airline's first wide-bodied models. The airline, which is based in the Rwandan capital of Kigali, will thus become the first East African provider to have an Airbus 330 in its fleet. The Airbus A330-200 and its sister model the A330-300, which is around 5 metres longer, can hold 244 and 277 passengers respectively and are due to be used primarily for routes to Dubai, London, New York, Mumbai and other airports in Africa.