NAB hits new heights with Australian aviation company financing

Share

Share

Leading-edge financing by National Australia Bank (NAB) has helped deliver the buy-out of TAE (formerly Tasman Aviation Enterprises), making TAE the nation’s largest fully Australian-owned aviation engineerings services company.

NAB helped finance 90 per cent of the deal for TAE management who were able to complete the transaction with an equity contribution – building on NAB’s position in providing tailored funding solutions for Australian businesses.

TAE is an aviation engineering services company in the aerospace and defence sectors and carries out work on turbine engines from Super Hornets to Abrams tanks.

The business was sold by Air New Zealand and has a number of features that are particularly attractive to investors, including long dated contracts with the Department of Defence.

NAB Executive General Manager for Capital Financing, Steve Lambert, said this latest deal further strengthened the bank’s position as a leader in progressive financial solutions through the debt capital markets.

“This deal puts NAB firmly at the forefront of product innovation and Australian business financing,” Mr Lambert said.

“This is further evidence that debt markets can play a pivotal role in funding Australia’s future and in this case, will help our aviation sector continue to grow.”

Head of nabCorporate, David Brett, said the deal was a great result for TAE, with a company-wide effort from NAB to support its customer.

“The transaction demonstrates NAB’s depth of capital solutions, providing our SME customers with access to alternative capital structures often reserved for the institutional segment,” Mr Brett said.

“It is also pleasing to be able to support an Australian business through its next phase of growth.”

TAE Chief Executive Officer, Andrew Sanderson, said TAE management could not have completed the buyout without NAB’s assistance.

“It’s great to know that NAB could make this deal happen to help further grow our company and make it 100 per cent Australian-owned,” Mr Sanderson said.

Following a roadshow to existing clients, NAB was able to provide a senior debt package and  subordinated debt. This allowed TAE management to execute the buy-out with an equity cheque.

Announcements

SEE ALL TOPICS

Related Articles

  • Full Year Results

NAB announces its 2024 Full Year Result

NAB and its customers continue to benefit from the focused execution of its strategy and a more stable operating environment, today announcing a sound Full Year result to the market.

  • 07.11.2024
  • Time to read 2 min read
  • Customers

Becoming Australia and NZ’s most customer-centric company

NAB has this week launched an evolution of its strategy, with CEO Andrew Irvine saying it’s time to raise the bar.

  • 24.10.2024
  • Time to read 1 min read
  • Business

New NAB Portal Pay to simplify and streamline property payments

NAB’s new payment platform will help reduce the complexities and administration burden traditionally associated with property sales and rental transactions.   

  • 20.09.2024
  • Time to read 3 min read

Quick links

National Australia Bank — NAB

Sometimes When The Unexpected Happens, We Realise What We Truly Value. Whether A Home, Farm, Business Or Your Passion, NAB Is Here To Support You.

Business Research and Insights

For more business news and analysis, visit NAB’s Business Research and Insights.