Aircastle has increased the size of its existing unsecured revolving credit facility with Citibank, Goldman Sachs, JP Morgan and Royal Bank of Canada, as joint lead arrangers, Citibank as agent; and Citibank, Goldman Sachs, JPMorgan, Royal Bank of Canada, Credit Agricole Corporate & Investment Bank, DBS Bank, Los Angeles Agency, Union Bank and Deutsche Bank 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.
