Investec Aviation Finance has provided $30m (鈧�27.8m) of debt financing to Titan Aircraft Investments (TAI), as the lender continues to see strong demand for aviation debt.
The arrangement marks Investec鈥檚 first transaction with TAI, the dry-leasing joint venture between Titan Aviation Leasing, a subsidiary of Atlas Air Worldwide Holdings, and Bain Capital.
Bain Capital holds a 90% interest in TAI.
The senior secured debt facility enabled TAI鈥檚 acquisition of a 2002 vintage Boeing 747-400F aircraft on lease to Atlas Air.
Investec said the deal reflects 鈥漷he high levels of demand Investec is seeing for aviation financing following a strong 2023鈥�. Last year, Investec closed $834m of aviation debt covering 67 aircraft, with the team having a particularly strong end to the financial year, providing over $250m of financing across several aircraft portfolios.
Joseph Barnwell, debt origination at Investec Aviation Finance, said: 鈥淭his latest deal reflects a continuation of the demand we have been seeing for aviation financing. We were able to showcase our ability to meet very constrained timeframes and to provide financing at high Day 1 LTVs when comfortable with the credit profile of the lessee/obligor.
鈥滻t was a pleasure to work with Titan Aviation Leasing on this transaction and we hope this will be the start of more collaboration to come.鈥�
Vamshi Rokkam, global head of finance at Titan Aviation Leasing, said: 鈥淚nvestec鈥檚 solutions-driven approach provided the framework for a speedy closure. We look forward to working together again in the future.鈥�
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