AerCap Indigo

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The proposed investment is in the form of a long-term, secured, and guaranteed debt financing of up to US$155.5 million to a special purpose vehicle, Pio Engine Leasing Limited (the SPV or the Borrower) to be incorporated in Ireland and 100% owned by AerCap Ireland Limited, a 100% subsidiary of AerCap Holdings N.V. (AerCap or the Sponsor).The financing is for acquisition of 13 CFM Leading Edge Aviation Propulsion (LEAP)-1A26 and CFM LEAP-1A30 new generation (spare) engines to be leased to InterGlobe Aviation Limited (which operates as IndiGo), in India, with lease terms of over 10 years (the Project). The LEAP-1A engine features some of the industry's most cutting-edge technologies, offering up to 15% better fuel efficiency and up to 50% reduction of NOx emissions in comparison to the current tech CFM56-5B engine. Each lease for the 13 engines may be structured via a head-lease/sub-lease structure through one or more entities, which may be established directly or indirectly withinGujarat International Finance Tec-City(GIFT City) in India.