Barclays, Others Arrange Lobo Leasing Facility Upsize
Lobo Leasing closed a five-year $225 million term loan facility with an accordion feature providing an option to upsize the commitment to $325 million, was led by joint lead arrangers Barclays Bank, Citi and Nomura Corporate Funding Americas.
The facility will be used to support the leasing company’s strategic growth in 2015. The addition of the facility brings the total capital raised by Lobo Leasing in 2014 to $525 million. In February 2014, Lobo announced a $200 million equity commitment from affiliates of GSO Capital Partners LP (an investment platform of Blackstone).
During its first full year of commercial operations, Lobo Leasing acquired a balanced portfolio of Sikorsky (S-92 and S-76), AgustaWestland (AW-139) and Eurocopter (AS332 Super Puma) helicopters and is further positioned to take advantage of the exciting opportunities it has identified in the expanding helicopter leasing market.
Bill Wolf, Lobo Leasing’s CEO congratulated his team on closing on a deal that “will significantly improve the flexibility we can offer our customers, which has always been the cornerstone of our unique approach to this industry.”
Wesley Kern, Lobo Leasing’s CFO, is “very pleased to have the support of Barclays, Citi and Nomura in our inaugural facility.” Mr. Kern sees the facility as “critical to our long-term success in the global helicopter leasing market” and considers the closing to be “the culmination of a very successful year for Lobo Leasing during which we have solidified the capital base underpinning our leasing platform.”
Lobo Leasing is a Dublin, Ireland-based helicopter leasing company serving the global helicopter industry.