Aircastle secures USD400m in term financing

Aircastle Limited (NYSE: AYR) has entered into a new USD400.5 million term facility secured by 17 aircraft, the company said.

The financing was led by BNP Paribas, Credit Agricole Corporate and Investment Bank and The Bank of Tokyo-Mitsubishi UFJ (London Branch) as joint lead arrangers as well as SGBT Asset Based Funding S.A. as arranger and ING Bank and Columbia State Bank as lenders. BNP Paribas also acts as agent and security trustee.

The facility has a maturity of seven years and includes an accordion feature allowing for USD67.5 million in additional future funding. Funding of the facility will take place through several draw-downs, with the first one, for USD167.3 million, having taken place yesterday.

Aircastle Limited acquires, leases and sells commercial jet aircraft to airlines throughout the world. As of March 31, 2016, Aircastle owned and managed on behalf of its joint ventures 162 aircraft on lease with 53 customers located in 33 countries.