FLY Leasing closed a $385 million blind pool aircraft acquisition facility. The facility has a three-year revolving period followed by a three-year term and will bear interest at LIBOR plus 2.00% during the revolving period.

The lenders included Commonwealth Bank of Australia New York Branch as the administrative agent, Commonwealth Bank of Australia New York Branch, MUFG’s banking arm Bank of Tokyo-Mitsubishi UFJ, New York Life Insurance Company and National Australia Bank.

“The completion of this facility provides FLY with the resources to continue to grow its fleet with young, desirable aircraft. Our focus remains on the most popular narrow-body aircraft with the largest user bases,” said Colm Barrington, CEO of FLY. “BBAM sourced and structured the facility, saving FLY significant fees and demonstrating BBAM’s deep value. The syndicate includes two new lending relationships for FLY as we continue to diversify our financing sources.”

FLY is a global aircraft leasing company with a fleet of commercial jet aircraft. FLY acquires and leases its aircraft under multi-year operating lease contracts to a diverse group of airlines throughout the world.