Manama, Bahrain: ALAFCO Aviation Lease and Finance Company K.S.C. (ALAFCO), the Kuwait-based aircraft leasing company, has recently closed the refinancing of an Airbus A320-200 aircraft on lease to Royal Jordanian Airline.

Arab Banking Corporation B.S.C. (ABC) acted as the sole lead arranger of the transaction. The aircraft (MSN 2953) has been on lease to Royal Jordanian since its delivery in 2006. The lease has been extended to 2018.

ABC’s Project & Structured Finance team has developed significant expertise in cross-border asset finance with a strategic focus on MENA airlines, lessors and investors. The team, based in Bahrain, has closed a number of syndicated and bilateral asset-backed facilities for regional operators and investors. ABC has a full-deal execution capability covering non-recourse and recourse loans (senior and junior).

ABC is a leading player in the region’s banking industry and provides innovative wholesale financial products and services that include corporate banking, trade finance, project and structured finance, syndications, treasury products and Islamic banking. It also provides retail banking services through its network of retail banks in the MENA region.