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Prime Capital and Doric cooperate on sale and leaseback transaction of aircraft engines

21/01/2021

Frankfurt, 21st January 2021

Prime Capital AG, the independent asset manager and financial services provider that manages EUR 17.9 bn across different asset classes, announced the completion of an innovative sale and leaseback transaction in cooperation with Doric GmbH („Doric“).

At the beginning of 2021, Doric and Prime Capital successfully completed the acquisition of two engines from the leasing subsidiary of a leading European engine manufacturer through SkyLux 225 SA, a Luxembourg-based securisation vehicle. The transaction is the first step of building a portfolio of engines of at least six aircraft engines. After the acquisition, the engines will be leased back to the seller. This is the first cooperation of Doric and Prime Capital.

The acquisition of the engines was financed through rated bond issues by SkyLux 225 SA. The bonds carry a fixed interest rate, have a medium term and were placed with institutional investors in Germany.

Sibylle Pähler, Managing Director of Doric, comments on the acquisition: „We are pleased with this engine transaction, which could be achieved despite the current COVID-19 market situation, and we are looking forward to the future cooperation with Prime Capital and our leasing partner.”

„The successful implementation of the transaction underlines Doric’s and Prime Capital’s many years of experience in the aviation sector and shows that institutional investors can make attractive investments in the aviation sector, even in the current market situation“, adds Stefan Futschik, Head of Private Debt at Prime Capital. „We are confident to find comparable investment opportunities in the months to come, thanks to our market know-how.“

For further information on Doric’s aviation business, please visit https://www.doric.com/transport

About Prime Capital:
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Prime Capital AG is an independent asset management firm and financial services provider, owned by management and employees. The company specializes in Alternative Investments, in particular in Absolute Return, Infrastructure, including Renewable Energies and Private Debt. Furthermore, the company offers Asset Management Outsourcing and Access Solutions. Prime Capital was founded in 2006, currently employs around 100 people in Frankfurt and Luxembourg and is regulated by BaFin and CSSF.

As of September 2020, Prime Capital has approximately EUR 17.9 bn Assets under Management, managed and administered.

For additional information, quotes or requests please contact:

Prime Capital AG

Andreas Kalusche, CEO
Questions regarding the content please contact Stefan Futschik
Tel: 0049 69 9686 984 307
stefan.futschik@primecapital-ag.com
www.primecapital-ag.com

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