Taca PDP Financing

completed

The proposed investment is an IFC revolving credit facility (the Facility) of $26 million to Grupo Taca for the benefit of Taca International Airlines S.A. (a Central American international airline company headquartered in San Salvador, El Salvador) and other members of Grupo Taca (Taca). The Facility will be used for pre-delivery payments (PDPs) towards the purchase of Airbus A-320 family aircraft (which include A-319s, A-320s and A-321s). Taca currently operates 111 daily flights to 35 destinations in 19 countries, servicing its passenger base in North America, Central America and South America, from its hubs at San Salvador (El Salvador), San Jose (Costa Rica) and Lima (Peru), respectively. The proposed project is part of an ongoing fleet modernization program that Taca began in 2000, resulting in a current average age of 3.3 years for Taca’s fleet.