RwandAir to sign financing deal with PTA bank

RwandAir and The Eastern and South African Trade and Development Bank (PTA Bank) are set to ink a loan guarantee deal for the purchase of the former’s    two B737-800 planes form Boeing. Jackie Tumuhairwe, RwandAir’s Marketing, Public Relations and Events Management Executive said that the loan agreement and deed of guarantee will be signed today.

RwandAir and The Eastern and South African Trade and Development Bank (PTA Bank) are set to ink a loan guarantee deal for the purchase of the former’s    two B737-800 planes form Boeing.

Jackie Tumuhairwe, RwandAir’s Marketing, Public Relations and Events Management Executive said that the loan agreement and deed of guarantee will be signed today.
The planes are due for delivery in August and October 2011.

“The signing ceremony is expected to be presided over by the Minister of Finance and Economic Planning, John Rwangombwa, and other top government officials from relevant Government Ministries and directorates are expected to attend,” Tumuhairwe said.

The PTA Bank team attending the signing ceremony will be led by Dr. Michael Gondwe, the bank’s President.

In November 2009, RwandAir acquired a loan of $40 million (Rwf22.7 billion) from PTA bank to finance the carrier’s development plans.

According to officials, the loan will be financed in a period of 10 years.

The signing of loan agreement preceded the national carrier’s acquisition of two CRJ200 aircrafts which were purchased late last year.

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