PK Airfinance and Apollo affiliates to Acquire $920 Million Portfolio of Secured Aviation Loans from Standard Chartered
NEW YORK, Aug. 28, 2023 (GLOBE NEWSWIRE) -- PK Airfinance, a leading aviation lending platform backed by Apollo (NYSE:APO), has agreed to acquire the majority of an approximately $920 million portfolio of secured aviation loans from Standard Chartered, with Apollo affiliates agreeing to purchase the balance of the portfolio.
- NEW YORK, Aug. 28, 2023 (GLOBE NEWSWIRE) -- PK Airfinance, a leading aviation lending platform backed by Apollo (NYSE:APO), has agreed to acquire the majority of an approximately $920 million portfolio of secured aviation loans from Standard Chartered, with Apollo affiliates agreeing to purchase the balance of the portfolio.
- The sale and transfer of the loans is subject to customary closing conditions and is expected to close year-end 2023.
- “We are pleased to announce this transaction with Standard Chartered and to add significant scale and airline reach to our aviation finance businesses,” said Gary Rothschild, Partner and Head of Aviation Finance at Apollo.
- Apollo and PK have built extensive relationships across the industry and serve more than 80 borrowers across 40-plus countries.