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White Oak Provides $65MM Facility to Airline Operator

August 12, 2014, 07:14 AM
Filed Under: Airline Operator

White Oak Global Advisors, LLC has provided a $65.0 million senior secured facility to a club-based airline operator. Located in the western United States, the private air travel company competes against both short-haul carriers and private jet alternatives. In recruiting members, its target markets are business and corporate executive fliers. The Company offers members an affordable private jet experience with the convenience of set routes and schedules, reduced boarding and check-in times, as well as luxurious and intimate cabins.

The financing, which will be initially funded in the amount of $19.0 million, will be used to refinance existing indebtedness, purchase new aircraft for its growing fleet, and add new routes. White Oak served as the administrative agent and sole lender for this transaction.

White Oak Global Advisors, LLC, is an SEC-registered investment adviser that directly originates private debt financings to middle-market companies to support growth initiatives. White Oak’s product suite includes asset-based secured term loans and credit facilities, cash flow based term loans, unitranche facilities, rescue and debtor-in-possession (DIP) financings, in/out of court restructurings, acquisition and capital expenditure facilities and other structured finance instruments. With $1.281 billion of invested and committed capital, White Oak has made over 68 direct debt investments in companies with enterprise values between $50 million and $1  billion across a diverse range of industries and sectors. Headquartered in San Francisco, White Oak has additional offices in New York City and Dallas.

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