ACIA Aero Leasing, a provider of regional aircraft leasing and lease management services, and Investec Bank entered into an agreement for a new revolving credit facility that will enable the lessor to draw new debt secured by regional aircraft.
The first transaction closed on March 3 and was secured by four ATR freighter aircraft, including two ATR 72-500 bulk freighters on lease to a U.S.-based customer in addition to one ATR 72-500 large cargo door freighter and one ATR 72-212 large cargo door freighter on lease to a South Africa-based customer. A second drawdown, scheduled to close later in March, will be secured by three regional aircraft, consisting of an Embraer E190, an ATR 72-600 and an ATR 72-500 bulk freighter. Future drawdowns are planned for Q2/22 and Q3/22 as ACIA Aero Leasing continues to acquire target assets.
“We are very pleased to renew and extend our long-running partnership with Investec,” Mick Mooney, CEO of ACIA Aero Leasing, said. “Investec’s approach and interests in this segment are in line with our strategy, making it much easier to execute deals. The structure of this new facility gives us greater flexibility and will support the continued growth of our portfolio in a measured and strategic way.”
“ACIA is a strong and long-standing aircraft leasing partner with a deep understanding of how to manage a large portfolio of regional aircraft,” Bradley Gordon, head of aviation finance in Africa at Investec Bank, said. “This new facility will support its commercial strategy, providing additional debt capital to acquire multiple regional aircraft in 2022 and beyond. We’re delighted to continue to partner with the ACIA team as they continue to grow their business.”
The revolving credit facility has a term of seven years. K&L Gates advised ACIA Aero Leasing on this transaction, while Watson Farley & Williams advised Investec Bank.
“This new facility demonstrates Investec’s confidence in our leasing business and our strategy as we continue to expand our portfolio and customer base,” Mooney said.