A syndicate of banks including Crédit Agricole, Société Générale, BNP Paribas, Commerzbank, Caixa Bank and Crédit Industriel et Commercial Bank provided a $650 million secured funding facility for Aviation Capital Group’s Aircraft Financing Solutions business (AFS). Crédit Agricole structured the facility, which includes an accordion option which can be exercised to provide up to $1 billion in total commitments.
“ACG is delighted to have partnered with our relationship banks to deliver this funding warehouse in support of our AFS program,” Madhu Vijay, Executive Vice President and CFO of Aviation Capital Group, said. “The closing of this warehouse is one more example of how ACG continues to support the OEMs and our leasing customers by moving the ball forward in innovative ways to help finance the industry.”
Aviation Capital Group is an aircraft asset manager founded in 1989. The company has approximately 500 owned, managed and committed aircraft as of December 31, 2019, which are leased to approximately 90 airlines in approximately 45 countries. The company is a wholly owned subsidiary of Tokyo Century Corporation.
“This new facility provides additional capacity for our AFS program and demonstrates ACG’s position as a market leader offering innovative funding solutions to our airline partners,” Khanh T. Tran, president and CEO of Aviation Capital Group, said.
