Global banks finance $420 million worth of loan facilities to LCI and SMFL

LCI and Sumitomo Mitsui Finance and Leasing (SMFL) have executed $420 million worth of loan facilities, that can be used for funding social projects.

The loan facilities were executed with four global financial institutions - Sumitomo Mitsui Banking Corporation (SMBC), Mitsubishi UFJ Banking Corporation, Mizuho Bank, and Bank of America.

The funds drawn under these facilities will be used to purchase emergency medical services and search and rescue helicopters.

Aviation company LCI specialises in the helicopter, commercial fixed-wing, and advanced air mobility sectors.

Alan O’Rourke, CFO of LCI, commented: “We salute the pioneering role played by the four leading financial institutions in committing funds which can be used for social projects.  We are proud that we are collectively making a real and tangible difference in supporting social projects and saving lives.”

LCI and SMFL launched a social loan framework under their JV, the first of its kind in the helicopter leasing sector, in November 2023.  It was established in accordance with internationally agreed social loan principles developed in 2023 by the Loan Syndications and Trading Association (LSTA).