Angola’s national airline Taag Angola has secured a US$368mn multi-tranche export credit agency-backed facility to purchase two Boeing 777-300ER aircraft.

GTR can reveal that the bulk of the funding was provided by US firm Private Export Funding Corporation (Pefco), which offered US$256mn with a 12-year tenor.

The Export Import Bank of the US provided cover for the Pefco tranche.

HSBC arranged a US$78mn five-year loan for the second tranche, which comes with a ministry of finance guarantee.

Finally, a local bank tranche of around US$34mn was syndicated by Banco de Poupanca e Credito and had involvement from Banco de Negócios Internacional and Banco Africano de Investimentos.

The Angolan tranche is also guaranteed by the ministry of finance and comes with a five-year tenor.

GTR can also reveal that the first plane is due for delivering on Wednesday June 15 and is expected to arrive in Luanda by Friday June 17.
The second plane is due in July.