Dubai's Emirates airline said on Monday it had signed a $265 million financing agreement with the US Export-Import Bank for two Boeing 777-300ER aircraft.
The financing, the first for the fast-growing airline from the US export credit agency, is a 12-year supported loan with commercial funding and carries a margin of 0.67 percent over three-month LIBOR (London Interbank Offered Rate), Emirates said in a statement. The deal was arranged by the Royal Bank of Scotland.
The two planes are scheduled for delivery in February and March next year.
"Our strengthening relationship with the US Ex-Im Bank will help us finance a number of Emirates' future Boeing deliveries," Riyaz Peermohamed, Emirates' Senior Vice President Corporate Treasury, said in the statement.
The Emirates fleet consists of 87 wide-bodies aircraft from Boeing and Airbus.
Last month, the airline ordered 42 wide-bodied Boeing 777 planes worth $9.2 billion. It has also taken the purchase rights for a further 20 planes.
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