Lease Corporation International (LCI), the helicopter lessor and aviation division of the Libra Group, closed a new asset-backed helicopter financing facility in excess of $75 million.

The new facility, led by CaixaBank along with a consortium of financial institutions, was arranged by National Westminster Bank as part of an oversubscribed financing and will be used to support the continuing growth of LCI’s helicopter fleet for civilian use.

The new arrangement is CaixaBank’s first with LCI and follows the successful closing of a similar facility earlier this year with Close Brothers Aviation and Marine.

Jaspal Jandu, chief financial officer of LCI, commented, “LCI’s sustained growth across multiple sectors in geographic markets around the globe is proving an attractive proposition for our financial partners, and this was recognised in the oversubscribed demand for this new asset-backed facility.

“We’re delighted to be working with CaixaBank and the consortium to help drive the growth of our fleet of next generation helicopters, whose efficiency and reliability is proving popular with the many civilian helicopter operators to whom we lease them.”

LCI’s fleet, which is comprised of approximately $1 billion in assets in service, on order and under management, is focused on the latest technology light-twin, medium and super medium helicopters manufactured by the leading helicopter OEMs, including Leonardo, Airbus and Sikorsky.

Since its inception in 2004, Lease Corporation International has acquired fixed wing and rotary aircraft with a value of around $6 billion. It is owned by Libra Group, an international business group with 30 subsidiaries active in 35 countries across six continents.