AerCap Holdings has secured a $400m credit facility with ten years maturity to fund 12 Boeing 737-800 aircraft which will be leased to American Airlines.

The deal is part of a previously announced agreement where AerCap agreed to buy 35 planes and then lease them back to American Airlines.

The facility was arranged by Credit Agricole Corporate and Investment Bank, Norddeutsche Landesbank Girozentrale, Commonwealth Bank of Australia, Landesbank Hessen-Thuringen Girozentrale and DVB Bank.

AerCap will deliver the planes throughout the first quarter of 2013.