First National Capital (FNCC), a full-service commercial equipment and aviation finance provider, established a $65 million capex facility to fund the rolling stock acquisition needs of a national transportation company.
The transportation company sought to modernize its fleet to enhance market competitiveness and provide customers with a contemporary, reliable, technology-enabled transportation experience. FNCC’s flexible financing solution aims to reduce costs while offering the option to purchase, return or continue renting vehicles beyond the initial five-year period.
“Assisting a renowned brand in positioning itself for growth with a truly flexible capital solution exemplifies our commitment to facilitating transactions while traditional lenders are scaling back,” Keith Duggan, CEO of FNCC, said. “Through a covenant-lite structure, we delivered scalable access to capital that complements senior lenders in the bank group, successfully executed with a foreign parent.”
