Aircastle Increases Revolving Credit Facility to $800MM, Extends to 2022

Aircastle increased the size of its unsecured revolving credit facility to $800 million from $675 million and extended its maturity by more than two years to June 2022. The facility will provide working capital for general corporate purposes, including aircraft acquisition.

The facility participants consist of Citibank, Goldman Sachs, J.P. Morgan Chase Bank and Royal Bank of Canada as joint lead arrangers. Citibank will serve as agent and lender, with Goldman Sachs, J.P. Morgan Chase Bank, Royal Bank of Canada, Credit Agricole MUFG Bank and BNP Paribas also serving as lenders.

Michael Inglese, Aircastle’s CEO, said, “We appreciate the continued support of our premier global bank group partners, whose confidence in Aircastle’s business is clearly reflected in this enhanced commitment. In line with the recent positive developments from multiple leading credit rating agencies, this increased and extended revolver further ensures that Aircastle is well-positioned to achieve long-term, profitable growth and value for shareholders.”

Aircastle acquires, leases and sells commercial jet aircraft to airlines throughout the world.  As of March 31, 2018, Aircastle owned 234 aircraft leased to 81 customers located in 44 countries.

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