Global aircraft lessor AviLease has successfully closed a $700 million unsecured revolving credit facility, which was more than 1.3 times oversubscribed. The dual-currency facility, in USD and Saudi Riyal, has been secured with four Saudi banks: Alrajhi Bank, Banque Saudi Fransi (BSF), Riyad Bank and Saudi Awwal Bank (SAB).
“This credit facility is key in diversification of our financing and liquidity strategy, representing a flexible short term financing tool in support of our opportunistic aircraft acquisition activities and working capital needs,” explained Edward O’Byrne, CEO of AviLease. He concluded that the new facility “is a testament to the strength of our platform and strong support from our banking partners”.
AviLease closes $700 million dual currency revolving credit facility
