TrueNoord has amended and extended its $600 million revolving warehouse facility, the regional aircraft lessor said today (February 2).
The company said the transaction strengthens its funding platform and provides long-term visibility and flexibility to support its continued portfolio growth.
The transaction included two new lenders joined this facility, Bank of Montreal and MUFG.
"This is a significant step in strengthening TrueNoord’s long-term funding strategy and underpins our ambition to continue growing as a leading specialist regional aircraft lessor,” comments Anne-Bart Tieleman, CEO of TrueNoord. “The extended facility provides the stability and flexibility we need to execute our strategy with confidence, while continuing to support our airline customers with high-quality, tailored leasing solutions.”
“This transaction enhances the efficiency and resilience of our funding platform, delivering improved economics, long-term visibility and greater flexibility to support portfolio growth,” said TrueNoord corporate finance manager Florian van Vugt.
Bank of Montreal, Citi, MUFG, Royal Bank of Canada, and Societe Generale acted as mandated lead arrangers and senior lenders.