ASL Aviation Holdings has closed on a refinancing agreement of its credit facility supported by Goldman Sachs as the sole structuring and placement agent.
The agreement includes a refinanced term facility size of $316 million and an additional revolving credit facility (RCF). The company said this will provide enhanced financial flexibility to support its continued growth and strategic development.
The company said the refinancing “demonstrates the ongoing confidence and trust” that banking markets have in ASL and its long-term strategy. The updated facility builds on ASL's financial track record, which includes an initial facility of $125 million in April 2021, increased to $200 million in July 2022 and a subsequent $155 million agreement in April 2023.
“The belief and strong support we continue to receive from the banking markets is encouraging,” said ASL Aviation Holdings CFO Mark O'Kelly. “It reflects the trust in ASL's growth strategy and our role as a global leader in aviation. This financing will enable us to further develop our fleet, serve our customers more efficiently and continue advancing toward our goal of reducing our carbon emission footprint.”
ASL Aviation said the refinancing also strengthens its banking syndicate by broadening its base of financial partners.