News Column

Jazeera Airways secures $18.3million refinancing

June 18, 2014

Jazeera Airways Group on Tuesday said that it has secured a $18.3 million aircraft refinancing facility through Arab Banking Corporation.

The group will use the proceeds to close an existing facility through the French corporate and investment bank, Natixis, resulting in a reduction of the company's debt financing charges.

"The improving debt markets have given us the opportunity to lower our cost of debt, enabling us to deploy an even better capital structure and a stronger balance sheet to support the Group's operations and strategic growth prospects," Jazeera Airways Group Chairman, Marwan Boodai, said.

The $18.3 million refinance facility through ABC has a five-year term.

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Source: Khaleej Times (United Arab Emirates)

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