CALC has secured a $400 million warehouse facility – with the option to increase the facility amount – in order to finance its orderbook of next-generation aircraft, refinance existing aircraft and bolster growth initiatives.
The transaction marks the first warehouse facility closed by an Asian-based lessor since 2015, featuring an innovative structure backed by a CALC guarantee.
“This ground-breaking deal highlights our commitment to strategic growth and financial innovation,” said Conrad Li, executive director, chief financial officer and chief strategy officer of CALC.
Li added: “We extend our heartfelt appreciation to BNP Paribas, CACIB, MUFG and Natixis CIB for their unwavering support, which has significantly improved our collaboration with financial allies. This move provides the Group with a significant capacity to support its growth plans with required flexibility, signifying a crucial milestone in CALC’s path of expansion.”
The facility is led by BNP Paribas, Crédit Agricole CIB (CACIB), MUFG and Natixis CIB as the mandated lead arrangers, while CACIB also acts as facility agent, security trustee and account bank of this transaction. Milbank acts as CALC’s legal counsel while A&O Shearman advises the lenders for the transaction.
With the strong backing of a broad range of lenders, CALC is set to pursue asset-backed securities (ABS) issuances and long-term growth objectives.