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Citibank Agents Aircastle’s Facility Increase to $675MM

March 30, 2016, 07:09 AM
Filed Under: Aircraft

Aircastle Limited increased the size of its unsecured revolving credit facility to $675 million from $600 million and extended its maturity by one year to May 2020.  The facility will provide working capital for general corporate purposes, including aircraft acquisition.

The facility participants consist of nine leading global financial institutions, with Citibank, N.A., Goldman Sachs Bank USA, JPMorgan 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, J.P. Morgan Chase Bank, N.A., Royal Bank of Canada, Credit Agricole Corporate & Investment Bank, DBS Bank Ltd., MUFG Union Bank, N.A., BNP Paribas and Deutsche Bank AG New York Branch, as lenders.

Mike Inglese, Aircastle's CFO, stated, "We appreciate the strong, ongoing support of our bank group over the past several years.  Along with our recent $500 million senior note issuance, this expanded and extended facility further strengthens Aircastle's liquidity profile and financial flexibility and enhances our ability to secure accretive new investment opportunities."

Aircastle Limited acquires, leases and sells commercial jet aircraft to airlines throughout the world.  As of December 31, 2015, Aircastle's aircraft portfolio consisted of 162 aircraft on lease with 53 customers located in 34 countries.

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