Lease Corporation International (LCI), the helicopter lessor and aviation division of the Libra Group, has closed its inaugural capital markets term loan financing, with a value in excess of USD 55 million, the company said.
The private, senior secured tranches have a maturity of five years, and were offered to a range of US financial institutions. CIT Group Inc. (NYSE: CIT) and Prudential Capital Group , the private capital investment arm of PGIM, the USD 1 trillion global investment management businesses of Prudential Financial, Inc. (NYSE: PRU), jointly funded the financing.
LCI´s fleet, which comprises approximately USD 750 million of assets in service and on order, is focused on the latest technology medium and super medium helicopters manufactured by the helicopter OEMs including Leonardo, Airbus and Sikorsky.
Since its inception in 2004, LCI has acquired fixed wing and rotary aircraft with a value of around USD 6 billion. LCI is owned by Libra Group (http://www.libra.com), an international business group with 30 subsidiaries active in 35 countries across six continents. Libra Group´s subsidiaries are focused on six core sectors: aviation, energy, hospitality, real estate, shipping, and diversified investments. http://www.lciaviation.com
Founded in 1908, CIT (NYSE: CIT) is a financial holding company with approximately USD 50 billion in assets as of Dec. 31, 2017. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has approximately USD 30 billion of deposits and more than USD 40 billion of assets. CIT provides financing, leasing, and advisory services principally to middle-market companies and small businesses across a wide variety of industries. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A. For more information, visit cit.com.
Prudential Capital Group has been a provider of private placements, mezzanine debt and equity, to companies for more than 75 years. Managing a portfolio of more than USD 82 billion as of December 31, 2017, Prudential Capital offers senior debt, mezzanine financing, leveraged leases, project financing, credit tenant leases as well as asset financing to companies, worldwide. The global regional office network has locations in Atlanta, Chicago, Dallas, Frankfurt, London, Los Angeles, Milan, Minneapolis, Newark, New York, Paris, San Francisco and Sydney*. For more information, visit prudentialcapitalgroup.com.