LX-VCH, ‘City of Dudelange’, which will land in Luxembourg on Thursday morning, is the eighth delivery for Cargolux of this new generation wide-body freighter since 2011.

For the financing of the latest 2 additions to its fleet, the airline launched two bonds secured by the Export-Import Bank of the Unites States (Ex-Im Bank) for an aggregate amount of over US$ 300 million in March and May of this year respectively. The bond issues allowed Cargolux to benefit from both the low interest rate environment and low margins due to the strong demand for this type of product. The bonds were arranged by Crédit Agricole Corporate and Investment Bank (CA-CIB) and Goldman Sachs in March, and by BNP Paribas in May. In May CA-CIB has also provided a 12-year accreting loan.

Over the past twelve months, Cargolux has invested close to US$1 billion in the new, more efficient and environmentally sound, 747-8 freighter for which the airline has been the launch customer. Cargolux successfully financed all deliveries through a combination of cash, commercial debt and US Ex-Im Bank supported loans and bonds.

The airline’s ninth 747-8 freighter is due to join the fleet later this year.