Europe

Griffin Global closes new $525 million revolving credit facility

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Griffin Global closes new $525 million revolving credit facility

Griffin Global Asset Management closed a three-year unsecured revolving credit facility for $525 million.

Mizuho Bank acted as administrative agent and lead arranger for the unsecured revolving credit facility. Additional joint lead arrangers included BofA Securities, Barclays Bank, Citibank, Goldman Sachs, Morgan Stanley, MUFG Bank, PNC Capital Markets, Société Générale, and Sumitomo Mitsui Banking Corporation.

“We are delighted to announce the closing of our unsecured revolving credit facility, which is an important milestone in building an investment grade balance sheet. This $525 million facility provides Griffin Corporate with flexible and attractively priced capital as we continue to deliver new aircraft. We are pleased to have expanded our relationships with both new and existing lenders and we are grateful for the continuing support of our banking group,” said John Beekman, chief financial officer, Griffin Global Asset Management.

Eleven banks provided commitments for the facility including Mizuho Bank, Bank of America, Barclays Bank, Citibank, Goldman Sachs, Morgan Stanley, MUFG Bank, PNC Bank, National Association, Société Générale, Sumitomo Mitsui Banking Corporation and Bank of Montreal.

Hughes Hubbard & Reed acted as US legal advisors to Griffin, while Milbank acted as legal advisors to the lenders.