Air Transport Services Group (ATSG) obtained commitments for a $100 million increase of the revolver portion of its secured credit facility with a consortium of banks led by SunTrust. It has extended the maturity of the entire facility by 12 months.

The changes increase the revolver to $425 million. Additionally, the facility includes an amortizing term loan which currently has an outstanding balance of $97.5 million. Both the revolver and term loan mature in May 2021.

Quint Turner, CFO of ATSG, said, “We appreciate the continued strong support of our long-time bank group as we invest our capital to meet the growing customer demand for our mid-size freighter assets and support services, while at the same time continuing to repurchase our shares. The responses from our lender group indicated they are willing to provide even greater credit availability beyond our current request, should the need arise.”

Outstanding debt against the revolver was $240 million at March 31, 2016. The credit facility is secured by certain designated aircraft.

ATSG is a provider of aircraft leasing and air cargo transportation and related services to domestic and foreign air carriers and other companies that outsource their air cargo lift requirements.