The Company, a market leader in helicopter service in Spain, wants to exercise a purchase option of a helicopter leased from an international supplier.
The Company wants to avoid paying additional rentals (cost instead investment in a high quality asset) and to lose the maintenance paid up to date to supplier.
Company with an important and diversified portfolio of customers: public institutions; with no Covid impact during pandemic period.
Solution
Crede structures a long-term sale&lease back (7 year) to finance the exercise of the purchase option of the rented helicopter.
Funder pays directly the purchase option to Supplier.
Pledge of an additional helicopter (2nd helicopter with lower market value) in order to strengthen the financials and LTV of transaction, with minimal value threshold defined.
Appraisal of both helicopter performed by an independent aircraft valuation company (French).
Cross-border deal negotiation, international supplier from Canada.
Resultado
Customer can account the contract off-balance sheet and does not compute CIRBE as it is a private contract.
Balloon (purchase obligation) defined and agreed at the end of term of the lease.
Funder is the beneficiary of both Civil liability and Fuselage insurance .
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