Daily News: August 16, 2012

CIT, EverBank CF Lenders in Milestone Facility

Milestone Aviation Group announced it has closed on a series of debt facilities totaling $400 million. The company will use the proceeds to support its partners and provide additional liquidity to the global helicopter market.

The combined $400 million in debt facilities include:

  • An oversubscribed $265 million facility led by Deutsche Bank, along with Nomura, Huntington Bank, CIT, 1st Source Bank, EverBank Commercial Finance and Credit Suisse as lenders. Milestone said this portfolio financing is generally recognized as the first facility of this type undertaken in the market.

  • A $75 million facility with Swedish bank SEB

  • Three facilities totaling more than $60 million with Societe Generale – including a facility to cover certain of Milestone