Aircastle has increased the size of its unsecured revolving credit facility to $1bn from $900 million. The revolving credit facility of $100 million comes as a commitment from BMO Harris Bank (BMO). The facility expires in April 2025 and provides working capital for general corporate purposes, including aircraft acquisition.
Michael Inglese, Aircastle's CEO said: "We appreciate the commitment of BMO joining the strong, ongoing support of our bank group to bring this revolving credit facility to $1 bn. As we pursue exciting investment opportunities in a profitable and disciplined manner, our strong access to capital markets is a strategic strength along with our investment grade rating and unique ownership structure."
In addition to BMO, the facility's participants consist of nine leading global financial institutions, with Citibank, Goldman Sachs, J.P. Morgan Chase Bank, Royal Bank of Canada, Fifth Third Bank, National Association, Credit Agricole Corporate & Investment Bank, MUFG Bank, BNP Paribas, and Mizuho Bank, as lenders.