GA Telesis has closed on a new syndicated $150 million credit facility. Led by HSBC Bank USA, the deal includes an increased commitment from four global and regional banks involved in the company’s previous facility. The new credit facility has a three year maturity with more efficient and flexible terms to support the company’s growth plans.
Jack Portlock, Senior Vice President and CFO of GA Telesis said: “HSBC and the syndicate banks provide international depth and expertise to support our continuing worldwide expansion. We are excited about this opportunity to better execute on our global business plan.”
“This new credit facility will allow GA Telesis to continue its organic growth, acquire additional aircraft and engine assets, purchase aerospace related businesses and provide related financing solutions to airlines, aircraft and engine manufacturers, MROs and leasing companies,” Portlock added.
GA Telesis’ Chief Investment Officer, Alvin Khoo, said: “This facility is a core component of the company’s capital structure and also complements our other sources of debt and equity funding for transactions. With this capital raise, GA Telesis has raised more than $300 million in debt over the last 12 months and is in the process of securing an additional $500 million debt commitment for 2015 sale-leaseback activity on aircraft, engines and inventory.”