HSBC and Fifth Third Arrange $225MM Credit Facility for GA Telesis

HSBC Bank and Fifth Third Bank served as joint lead arrangers on a five-year, $225 million syndicated asset-based lending credit facility for GA Telesis, an aviation integration company.

The facility includes nine participating banks, with HSBC Bank as administrative agent. The facility refinanced an existing $225 million ABL facility led by HSBC, which was set to expire in 2022. The new facility has improved availability, pricing and other terms consistent with or better than the current facility. GA Telesis will use proceeds from the facility for general corporate purposes and acquisitions and to fund future growth.

“Given the challenging environment, we are pleased with the outcome of this syndication process,” Alvin Khoo, CFO of GA Telesis, said. “Strong interest from our existing lenders as well as the number of new banks that wanted to initiate a banking relationship with GA Telesis is a testament to the strength of our management team and our strong performance during the pandemic.”

“Once again, HSBC and Fifth Third provided critical leadership advocating for our strong financial performance and high credit quality,” Abdol Moabery, president and CEO of GA Telesis, said. “Ultimately, the company’s strong operating and financial performance, especially in the last two years, drove us to significant oversubscription and better terms that position us extremely well for the future.”

In addition to the new ABL facility, GA Telesis also renewed a $100 million unsecured credit facility.

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