News and press

Nordic Aviation Capital and PFA, Denmark’s largest customer-owned pension company, agree a USD 470 million loan

Nordic Aviation Capital (“NAC”) and PFA have entered into a financing agreement of a USD 470 million loan to further strengthen NAC’s funding profile and capital base.

The new financing forms part of NAC’s strategy to raise longer term financing to further strengthen the financial profile and support the future growth of the company, while at the same time coinciding with PFA’s strategy to invest in well-performing companies with strong partners.

“This is another significant transaction for NAC. Having been able to attract PFA as a single lender reinforces the increased public knowledge of, not only the regional aviation market, but more particularly NAC,” says Steve Gorman, Chief Funding Officer, NAC.

“We are very pleased with this landmark transaction, and we have no doubt it will support NAC’s business model as we continue to grow our customer base,” says CEO Søren M. Overgaard, NAC.

“NAC has experienced solid growth over a number of years and holds a strong market position. NAC is owned by professional and strong partners, which creates a solid foundation for a company which has become the global market leader in an attractive niche segment within aircraft leasing. Therefore, this is a very interesting investment where we can provide financing for the company to continue its positive development and where PFA’s customers can look forward to a solid long-term and risk-adjusted return," says Henrik Nøhr Poulsen, Chief Investment Officer responsible for equities and alternatives, PFA.

About Nordic Aviation Capital
NAC is the industry’s leading regional aircraft lessor serving over 70 airline customers in 50 countries. The company provides aircraft to well-established carriers such as British Airways, Air Canada, LOT, Azul, Lufthansa, Alitalia, Garuda, Flybe, Aeroméxico and airBaltic as well as major regional carriers including Air Nostrum and Widerøe. NAC’s current fleet of almost 500 aircraft includes E170, E175, E190, E195, ATR 42, ATR 72, Bombardier Dash 8, CRJ900, CRJ1000 and A220. NAC is the largest owner and lessor of both ATR and Bombardier aircraft in the world. 

About PFA
With more than DKK 500 billion under management and 1.2 million individual customers, PFA is the largest commercial pension company in Denmark. PFA is working determinedly at increasing the number of alternative investments, and today, its portfolio amounts to more than DKK 35 billion across private equity, infrastructure and private credit. The aim is to invest DKK 10 – 15 billion per annum in alternative investments. PFA has taken part in some of the largest and most significant alternative investments in recent years, including the acquisition of TDC and investments in Nykredit, Interpark, Danish Ship Finance, Avantor and Walney Extension Offshore Wind Farm.

For additional information, please visit us at www.nac.dk.

Contacts:
Søren M. Overgaard or Steve Gorman, NAC, +45 76 51 12 00
Kristian Lund Pedersen, Chief Press Officer, PFA, + 45 39 17 58 79

Ireland

Bedford Place,
Henry Street, Limerick City,
Ireland
Tel: +353 61 432 400

Denmark

Stratusvej 12,
7190 Billund,
Denmark
Tel: +45 7651 1200

USA

401 East Las Olas Boulevard,
Suite 1700,
Fort Lauderdale,
FL 33301,
USA
Tel: +1 954 763 4737

Singapore

14 Emerald Hill Road,
Singapore, 229296
Tel: +65 6735 7014

Hong Kong

Tower 535 Suite 18005
535 Jaffe Road
Causeway Bay, Hong Kong
Hong Kong SAR, PRC

NAC is the global Leader in Regional Aircraft Leasing with over 200 employees operating across 5 locations globally.
The company provides aircraft leasing and lease management services to airlines and aircraft investors worldwide.