Aircraft leasing company SMBC Aviation Capital, headquartered in Dublin, has finalised a five-year global syndicated finance facility, raising $1.5bn. The facility raised funds from 29 financial institutions, 13 of which are new banking relationships for the company.
The syndicated finance facility comprises of a $375 million term loan and a $1.125bn revolving credit facility with a consortium of American, Asian, Australian, European, and Middle East banks. The revolving credit facility will ""provide further operational flexibility for the future liquidity needs of SMBC Aviation Capital,"" the company's chief financial officer Aisling Kenny explained.
""This transaction represents a further milestone in our syndicated banking programme and demonstrates our ability to raise large scale, competitively priced capital,"" said Kenny. ""The deal is global in nature and further increases the diversification of our banking relationships"".
The senior syndication phase of the transaction included participation from 10 banks, while the general syndication phase of the transaction included participation from a further 19 banks.
Citigroup Global Markets Asia acted as global coordinator, and together with eight banks, including Bank of China, Caixabank, Cathay United Bank, DBS Bank, Emirates NBD Capital, Oversea-Chinese Banking, Taipei Fubon Commercial Bank, Taishin International Bank acted as senior mandated lead arrangers and bookrunners. Australia and New Zealand Banking Group's Singapore branch acted as mandated lead arranger and bookrunner.
SMBC Aviation Capital raises $1.5bn through global syndicated facility
