AerCap Holdings closed a new $700 million secured credit facility. The facility will primarily be used to acquire new narrowbody and widebody aircraft from Boeing and Airbus that will be delivered through the end of 2016.

The facility was signed to finance a portfolio of nine aircraft and has a maturity date of December 2022. The facility was coordinated by CTBC Bank, Development Bank of Japan and DBS Bank, all of whom, together with Bank of Tokyo-Mitsubishi UFJ, National Australia Bank, China Construction Bank, Bank of East Asia and The Tokyo Star Bank, acted as mandated lead arrangers.

Paul Rofe, group treasurer of AerCap, said: “We are very pleased with the successful closing of this transaction, which further demonstrates AerCap’s excellent access to liquidity. We were able to welcome new lenders to the AerCap group along with enjoying the continued support and confidence of our existing banking partners in executing this facility.”

The total amount of financing transactions completed in 2016 is $800 million.

AerCap is an aircraft lessor with approximately 1,700 owned, managed or on order aircraft in its portfolio.