SunTrust, Others to Expand and Extend ATSG Facility
Air Transport Services Group (ATSG) obtained commitments for an expansion of the revolver portion of its secured credit facility with a consortium of banks led by SunTrust, and that it has extended the maturity of the entire facility by 14 months.
The changes increase by $50 million, to $225 million, the $175 million revolving credit portion of a $325 million credit facility that ATSG completed in May 2011 and was due to mature in May 2016. The facility also includes a $150 million term loan. Both the revolver and term loan portions of the credit agreement will now mature in July 2017.
The increase in the revolver was completed under the credit facility