Lloyds Arranges $300MM Facility for Milestone Aviation
Helicopter leasing company Milestone Aviation Group announced it has closed a new $300 million credit facility. The company will use the proceeds to acquire and lease helicopters valued at $400 million to affiliates of Bristow Group. The assets include Sikorsky S-92’s, Eurocopter EC225’s and AgustaWestland AW189 and AW139 aircraft.
The Milestone facility is the largest-ever for a helicopter lessor. Lloyds Bank acting through its Corporate Asset Finance division was mandated lead arranger and facility agent while Lombard, the dedicated asset finance arm of RBS, and Barclays Bank served as original lenders for the credit facility.
“We are delighted to have closed this innovative, single lessee transaction with Lloyds, Barclays and Lombard,” said Richard Santulli, Milestone’s chairman and CEO. “We structured this transaction with Bristow and worked together to bring it to completion. The proceeds will allow us to continue to support Bristow and grow this important relationship while diversifying our sources of capital.”