The five-year senior secured warehouse facility originally closed in November 2021 with an initial committed amount of $600 million. The upsizing more than doubles the capacity of the facility and brings new banking partners into the credit facility, including BNP Paribas, Goldman Sachs, KeyBank and Société Générale.
“We are delighted to announce the upsize, extension and amendment of the Vmo warehouse facility and to welcome four leading aviation financing institutions to the Vmo warehouse bank group. We are grateful for the support from our banks as we continue to execute upon our growth strategy,” Meghan O’Connor, senior vice president and head of capital markets at Vmo Aircraft Leasing, said. “The amended and expanded warehouse facility will provide us with additional capacity and flexibility to support our airline customers.”
“Closing an upsize of $625 million via a combination of new lenders and existing banks demonstrates the support Vmo has in the aviation bank market. We are thrilled to continue to support Vmo’s growth through this upsize,” Yevgeniya Levitin, Natixis CIB’s head of aviation in the Americas, said.
Milbank acted as legal advisor to Vmo on this transaction, while Maples and Calder (Ireland) acted as Irish legal advisor to Vmo and Vedder Price acted as legal advisor for the lenders.