PK Airfinance, Apollo To Buy $920 Mln Portfolio Of Secured Aviation Loans From Standard Chartered

(RTTNews) - PK Airfinance, an aviation lending platform backed by Apollo Global Management, LLC (APO), agreed on Monday to acquire the majority of an approximately $920 million portfolio of secured aviation loans from Standard Chartered plc (SCBFF.PK, STAC.L, STAN.L), 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.

Apollo's aviation business, including the PK Airfinance platform, serves as a go-to lender in the industry with over $40 billion of commitments to-date and current loan portfolio of $4 billion.