Dublin-based Stellwagen Capital has made its first loan from a recently launched fund, valued at $116m (€100.6m), to the China Aircraft Leasing Group for a new Airbus A321.
Stellwagen, which is headed by former Ryanair deputy CEO Howard Millar, supplied the funding through its Senior Loan investment vehicle.
The 10-year loan has a balloon structure, making it an attractive financing option for leasing companies and airlines as it minimises cash outflows during the tenor of the loan.
Mr Millar said Stellwagen has received "great interest from around the world for our new innovative loan solutions, and we are delighted to conclude this important first loan transaction with CALC, an internationally recognised lessor.
"A second Airbus A321, with a similar list price will be financed by us for CALC in September. This new senior loan product delivers innovative and bespoke financing to airlines and lessors, secured against high quality and liquid aircraft collateral, like the Airbus A321."
