AerCap gets guarantee for aircraft financing

Aircraft and engine leasing firm AerCap Holdings N.V. said Monday it agreed with Calyon S.A. and other banks on terms for European export credit agencies to guarantee up to $1.4 billion in financing for an order of Airbus A330 aircraft.

AerCap shares jumped more than 50 percent.

The deals would outline the terms for guarantees on financing for Airbus aircraft scheduled for delivery between 2009 and 2012.

The loans will be provided by a syndicate of banks led by Calyon and are subject to requirements of the export credit agencies Coface in France, ECGD in the United Kingdom, and Euler-Hermes in Germany.

AerCap Chief Financial Officer Keith Helming said the transaction showed AerCap's ability to secure competitively priced long-term financing even in a "very challenging" market.

Amsterdam-based AerCap said it executed nearly $3.4 billion of facilities in 2008.

U.S.-traded shares of AerCap rose $1.70, or 52.8 percent, to $4.92 in afternoon trading. The stock has ranged from $2.11 to $20.47 over the past year.