Daily News: February 6, 2014

GB Credit Agents $73MM Silver Airways Facility

GB Credit Partners announced that it acted as the administrative agent for a $73 million facility to Silver Airways supported by the company’s aircraft and other assets.

Victory Park Capital launched Silver Airways as a new airline in May 2011 following its acquisition and restructuring of a previously defunct company. The financing provided by GB Credit Partners will allow Silver Airways to further grow and manage their business.

“Due to GB Credit Partners’ deep understanding of the airline industry, they were very responsive and were able to structure a facility that provided additional sponsor liquidity and operational flexibility,” said Mathew Ray, Victory Park Capital Partner.

GB Credit Partners has experience in over 25 industries including aerospace, business services, energy, high technology and transportation.

Lawrence Klaff, managing director of GB Credit Partners, said, “We are thrilled to be able to contribute to Silver Airways’ growth with this financing. Based on our aviation expertise and the wide recognition Silver Airways has achieved throughout the industry, the company holds much promise and we are eager to watch it reach new heights as it expands the business.”

Fort Lauderdale, FL-based Silver Airways, owned by Victory Park Capital, operates almost 200 daily scheduled flights to/from 46 gateways in Florida, the Bahamas, Georgia, Alabama, Mississippi, Virginia, West Virginia, Pennsylvania, New York and Ohio.