First Citizens Bank’s Aerospace, Defense & Government Services business provided $50 million to Space Leasing International (SLI).
Founded in 2023, Libra Group’s SLI is building on Libra’s 20+ years of aviation leasing experience to become the world’s first space leasing company dedicated to the full spectrum of space assets. First Citizens Bank has been a long-time, trusted banking partner of Libra Group and its subsidiaries, LCI and Lomar Shipping.
First Citizens secured a foundational $325 million helicopter warehouse facility for LCI in 2014, among other transactions, and has been a trusted financing partner of Lomar Shipping vessels for many years.
“We thank First Citizens Bank, the other financial institutions, and LCI for their support in completing this transaction. We look forward to exciting future announcements from SLI,” said Praveen Vetrivel, CEO of SLI.
“We are pleased to support the team at SLI, which has a long and trusted relationship with our group,” said Eduard Vernède, Head of Aerospace, Defense & Government Services at First Citizens Bank. “We look forward to working with the SLI team and the wider Libra Group on their future growth.”
“This deal highlights our team’s in-depth industry knowledge and commitment to providing customized financing options to important clients in the aerospace industry,” he added.
First Citizens Bank’s Aerospace, Defense & Government Services business, part of the company’s Commercial Finance group, provides integrated financial solutions to manufacturers, suppliers, and service providers across the aerospace, defense, homeland security, and government services sectors.
