FLY Leasing closed a new $332 million secured debt facility. The facility has an eight-year term and will bear interest at LIBOR + 1.65%.

The lender syndicate is comprised of nine institutions, including five first-time lenders to FLY.

“This term loan facility has one of the most competitive borrowing costs in the industry, demonstrating that FLY continues to be an attractive counter-party for a broad group of lenders,” said Colm Barrington, CEO of FLY. “The eight-year term is in line with our philosophy of matching our financing terms with our lease term profile.”

FLY is a global aircraft leasing company that leases its aircraft under multi-year operating lease contracts to a diverse group of airlines throughout the world.