Israeli carrier Israir has signed a binding agreement to purchase an Airbus A320 aircraft which it currently leases.
The purchase price of the aircraft is $29 million, including approximately $5 million in engine maintenance.
Israir will finance half the purchase through a loan from an undisclosed banking institution and the remaining 50% through the issuance of convertible bonds.
The 12-year $14.6 million bank loan will have a rate of SOFR + 3.35% with an early repayment option after three years.
Related ID: 20107
