Helicopter purchase financing €1.43MM

  • 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.
  • 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.
  • 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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