Aircastle Limited (the “Company” or “Aircastle”) announced that it entered into a new $400.5 million term facility secured by 17 aircraft. The facility has a maturity of seven years and includes an accordion feature allowing for $67.5 million in additional future funding. Funding of the facility will take place through several draw-downs, with the first one, for $167.3 million, having taken place yesterday.
The financing was led by BNP Paribas, Credit Agricole Corporate and Investment Bank and The Bank of Tokyo-Mitsubishi UFJ (London Branch) as Joint Lead Arrangers as well as SGBT Asset Based Funding S.A. as Arranger and ING Bank and Columbia State Bank as lenders. BNP Paribas also acts as Agent and Security Trustee.
Mike Inglese, Aircastle’s CFO, stated, “Following our recent successes in sourcing unsecured debt, this secured financing helps diversify Aircastle’s funding sources as we capitalize on accretive investment opportunities in a disciplined fashion. This deal provides us with attractive financing while building on our strong relationships with several leading aviation finance lenders.”
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