DP Aircraft I (LSE:DPA), the Guernsey-based aircraft leasing investment company, has drawn down new debt facilities led by Investec Bank against its two Boeing 787-8 aircraft, with the loans maturing in late 2034.
The maturity is structured to align with the end of the group's previously announced 12-year lease agreements with LOT Polish Airlines.
The two aircraft are expected to transfer from the group's Guernsey subsidiaries to its Irish entities and be delivered to LOT following the expiry of existing Thai leases in October and December 2026, with the borrower positions migrating to the Irish subsidiaries at the same time.
The loans will amortise over their term to a final balloon repayment at maturity, which may be reduced at the option of the relevant borrowing entity, and hedging arrangements have been put in place to manage floating-rate exposure.
Investec is acting as agent, security trustee and hedge counterparty.
The next milestone for the group is the transfer of the aircraft upon expiry of the Thai leases later this year.
