Credit Agricole Agents AeroTurbine Facility Increase
AerCap Holdings announced subsidiary AeroTurbine signed an amendment and extension of its credit facility which increases the size from $430 million to $550 million and extends the maturity of the facility to the fourth quarter of 2019. Credit Agricole CIB, the incumbent administrative agent, led the facility. Joint bookrunners included Morgan Stanley, JPMorgan, BNP Paribas and MUFG Union Bank. Fifth Third Bank acted as documentation agent. The number of participating banks increased from nine to fifteen.
“We are grateful for the continuing support from our banking group as we continue expanding our global business,” said Michael King, AeroTurbine president and CEO. “This credit facility further increases our access to attractively priced capital and strengthens our ability to aggressively pursue acquisitions of the most profitable aircraft, engines and parts inventory.”
AerCap is a global aircraft lessor, with 1,300 owned and managed aircraft in its current fleet.
AeroTurbine, a wholly owned subsidiary of AerCap, is the largest global provider of aircraft engines, airframes and components.