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Citibank Agents Aircastle’s Facility Increase to $600MM

January 27, 2015, 07:48 AM
Filed Under: Aircraft Leasing

Aircastle Limited announced it increased the size of its existing unsecured revolving credit facility with Citibank, N.A., Goldman Sachs Bank USA, J.P. Morgan Chase Bank N.A. and Royal Bank of Canada, as joint lead arrangers, Citibank, N.A. as agent; and Citibank, N.A., Goldman Sachs Bank USA, JPMorgan Chase Bank N.A., Royal Bank of Canada, Credit Agricole Corporate & Investment Bank, DBS Bank Ltd., Los Angeles Agency, Union Bank, N.A. and Deutsche Bank AG New York Branch, as lenders. The facility, which will be used for working capital, including the acquisition of aircraft, was increased to $600 million from $450 million.

Mike Inglese, Aircastle's CFO, stated, "We appreciate the strong continued support of our bank group and are pleased to further increase Aircastle's unsecured revolving credit facility to $600 million.  This facility, together with our recent $500 million senior note offering, evidence Aircastle's well-diversified and ready access to the capital markets on attractive terms. These financing facilities enhance our ability to grow and provide shareholders with solid returns."

Aircastle Limited acquires, leases and sells commercial jet aircraft to airlines throughout the world.  As of September 30, 2014, Aircastle's aircraft portfolio consisted of 140 aircraft on lease with 61 customers located in 37 countries.

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