Daily News: July 27, 2017

MUFG Agents AeroCentury Facility Upsize to $170MM


AeroCentury’s revolving credit facility, agented by MUFG Union Bank, was expanded to $170 million from $150 million.

“We are very pleased with the vote of confidence from our credit facility lenders that this increase represents,” said Toni Perazzo, chief financial officer.

The company also announced that it completed the purchase of a package of three Embraer 175 aircraft on lease to a U.S. regional carrier.

Michael G. Magnusson, chief executive officer, stated, “This recent acquisition, combined with our purchase of Embraer 145 aircraft earlier this year, brings the total number of Embraer aircraft in our portfolio to six, further diversifying our portfolio into this workhorse regional aircraft brand. With over 1,100 Embraer aircraft operating throughout the world, the demand for and versatility of Embraer regional aircraft is indisputable.”