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Natixis CIB Provides A330NEO Financing to Condor

Paris, France, January 25, 2024

Natixis Corporate & Investment Banking ("Natixis CIB") is pleased to have supported Condor Flugdienst GmbH (“Condor”) with the financing of a brand-new Airbus A330Neo aircraft delivered in January 2024.

Condor is a German airline specializing in offering holiday flights. Condor operates a fleet of over 50 aircraft flying from the eight largest airports in Germany and from Zurich to around 90 destinations in Europe, Africa and America.

The transaction was structured as a French Optimized Lease (“FOL”) combined with a loan backed by Itasca insurance. Natixis CIB acted as Lease Arranger and Agent on the lease; Natixis CIB and Norddeutsche Landesbank Girozentrale (“NordLB”) acted as Mandated Lead Arrangers and Lenders on the loan; and Itasca MGA acted as Insurer Agent.

Commenting, Alain Rousseau, Head of Aviation Finance EMEA at Natixis CIB, said: “We are extremely grateful to have teamed with NordLB and Itasca to provide such an innovative and cost-efficient financing solution to Condor in a timely manner. This is a great milestone for our aviation franchise, being our first transaction with both Condor and Itasca, and we look forward to further expand our relationship with them.”.

Björn Walther, CFO of Condor, also commented: “We are extremely happy to have concluded this first Itasca transaction for a widebody aircraft together with Natixis and NordLB. We thank all partners for their support throughout this process.”

To find out more about how the Natixis CIB aviation team can support your business, visit: https://home.cib.natixis.com/transport-environment

Natixis Corporate & Investment Banking is a leading global financial institution that provides advisory, investment banking, financing, corporate banking and capital markets services to corporations, financial institutions, financial sponsors and sovereign and supranational organizations worldwide.

Our teams of experts in close to 30 countries advise clients on their strategic development, helping them to grow and transform their businesses, and maximize their positive impact. Natixis CIB is committed to aligning its financing portfolio with a carbon neutrality path by 2050 while helping its clients reduce the environmental impact of their business.

As part of the Global Financial Services division of Groupe BPCE, the second largest banking group in France through the Banque Populaire and Caisse d’Epargne retail networks, Natixis CIB benefits from the Group’s financial strength and solid financial ratings (Standard & Poor's: A, Moody's: A1, Fitch Ratings: A+,R&I: A+).

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