Next Level Aviation (NLA), a company in the global distribution of used serviceable materials (USM) for all Boeing and Airbus commercial aircraft and associated jet engine platforms, has secured an increase in its revolving credit facility with PNC Bank for the U.S. based parent company from $50 million to $75 million, as well as an additional $5 million credit facility for Irish subsidiary, Next Level Aviation-Ireland (NLAI). Both credit facilities have the potential to expand over time as NLA and NLAI grow.
This significantly upsized working capital credit facility will allow NLA to increase inventory of serviceable material, continue to expand its geographic footprint, as well as support NLA’s diversification into other complementary lines of business.
“We are very appreciative that PNC Bank, one of the largest diversified financial institutions in the United States, has the confidence in Next Level Aviation’s global business model, management team and financial performance to increase our total access to asset-based credit by 60% in less than one year of working together, in addition to extending our Irish subsidiary, Next Level Aviation-Ireland, Ltd., its first revolving credit facility,” Jack Gordon, chairman and CEO of NLA, said. “We would like to again thank the PNC Business Credit team for their commerciality and client-focused, solutions-based approach to our partnership.”
Ray Fernandez-Andes, chief financial officer of Next Level, added, “As we continue to grow, the global nature of Next Level Aviation’s business presents both unique challenges and opportunities. The PNC Business Credit team has taken the time to understand all of this, and crafted banking solutions that set Next Level Aviation up for continued success in the commercial aviation aftermarket.”
