Phoenix Aviation Capital, managed by AIP Capital, has upsized its $300 million senior secured credit facility to $550 million.
The facility will provide the company additional capacity and flexibility to support its airline customers.
"This expanded participation in the facility represents further confidence in the business among Phoenix's lender group," said Jared Ailstock, managing partner at AIP.
HSBC, Truist, Fifth Third Bank, Credit Agricole, BNP Paribas and Bayern participated in the upsize to the facility. Royal Bank of Canada acted as structuring agent with RBC, Citibank and Morgan Stanley acted as joint lead arrangers.
Vedder Price served as transaction counsel and PwC acted as tax advisor to Phoenix and AIP.
McCann FItzgerald also acted in the capacity of Irish counsel to Phoenix and AIP.
Clifford Chance served as transaction counsel to the lenders.