OREANDA-NEWS. State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)”, US Ex-Im Bank, Credit Agricole CIB, Goldman Sachs, Apple Bank for Savings entered into an Agreement on Funding the Supplies of Four Boeing 777-300 Aircraft to be further transferred into financial leasing to OJSC Aeroflot.

Under the Agreement US Ex-Im Bank provided insurance coverage for the transaction against Vnesheconombank’s guarantee. Credit Agricole CIB and Goldman Sachs acted as coordinating banks, Apple Bank for Savings and VEB-Leasing became the transaction’s creditors. The Boeing planes are scheduled to be supplied in February, March and April this year. The leasing transaction’s tenure is 12 years.

US Ex-Im Bank’s participation made it possible to purchase the aircraft on favorable terms. The raising of long-term credit facilities against US Ex-Im Bank’s insurance coverage testifies to foreign creditors’ high level of trust in Vnesheconombank Group and this is an important step in enhancing international trade and economic ties.

This cooperation helps to develop Russia’s financial leasing market and makes it possible to provide airlines with comprehensive and innovative financial solutions in this sector as well as assist customers in searching for the most acceptable ways of funding the purchase of new aircraft.

This project’s implementation would help to boost the program of renewing Aeroflot’s fleet, expand the airline’s intra-Russian and international routes and improve the quality of services offered.