Turkish Airlines has raised $328.3 million through dollar-denominated certificates to finance three Boeing 777-300ER aircraft, it said, the first time the carrier has raised funds through capital markets.

The airline said in a statement late on Thursday it had raised the money through a private offering of Enhanced Equipment Trust Certificates (EETC).

EETCs, a type of debt financing, ensure lenders have direct claim over an aircraft in the event that a carrier has financial trouble. They typically offer low interest rates than other types of aircraft financing.

Turkish Airlines did not give details of the financing. However, bankers told Reuters on Thursday the certificates would mature in March 2027 and that Citigroup and Goldman Sachs were the lead bookrunners.

The financing will be used to fund the purchase of the three new Boeing jets due for delivery this month and next month, Turkish Airlines said.

The carrier said last month that it and its subsidiaries planned $3.74 billion in investments this year, mostly on previously ordered aircraft that will expand its fleet of 261 planes.

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