ABC closes $60.5m loan facility for NAS

Manama, May 19, 2009

Arab Banking Corporation (ABC), a Bahrain-based bank, said it has successfully closed a $60.5 million seven year loan facility for Riyadh-based National Air Services (NAS).

The facility is supported by a guarantee from the Export-Import Bank of the United States (Ex-Im Bank). The Facility finances the delivery payments for NAS of the purchase of six Hawker 750 model aircraft from US-based Hawker Beechcraft Corporation.

NAS, the largest private operator of business jets in the Middle East and the leading provider of VVIP and executive air transport services in the region, has already taken delivery of three of the Hawker 750s.

The six Hawker 750s, each a high-performance, ultra-comfortable, light-midsize business jet, represent an important component in NAS' airline system.-TradeArabia News Service

Tags: Arab Banking Corporation | NAS | loan | Export-Import Bank |