Air Transport Services Group obtained lender commitments for a one-year extension through May 2022 of its secured credit facility, which was increased by $120 million to $545 million.

The amendment to ATSG’s agreement with a consortium of banks was led by SunTrust and preserved ATSG’s access to a $100 million accordion feature.

Quint Turner, chief financial officer of ATSG, said, “We appreciate the continued support of our bank consortium as we invest to meet strong domestic and international demand for our expanding fleet of midsize freighter aircraft. The additional credit, along with growing cash flows generated by ATSG’s businesses, provides us with ample resources to meet capital commitments we anticipate in the near term.”

The outstanding balance under the revolver was $415 million as of March 31, 2017. The facility also includes an amortizing term loan with an outstanding balance of $82.5 million.

The variable interest rate structure on the revolver remains unchanged. Rates are affected by LIBOR, plus a credit spread that adjusts quarterly based on the actual leverage ratio up to 3.5 times EBITDA. The revolver interest rate is currently 2.99%.

ATSG is a provider of aircraft leasing and air cargo transportation and related services to domestic and foreign air carriers and other companies that outsource their air cargo lift requirements.