Phoenix Aviation Capital, a full-service aircraft lessor, and AIP Capital, an alternative investment manager, closed a $240 million term loan facility. The facility is intended to be used to finance the acquisition of six next-generation aircraft assets on long-term leases with five airlines across the globe. Commitments for the facility were provided by Citi, Société Générale and HSBC.
Citi and Société Générale acted as joint structuring agents, joint bookrunners and joint mandated lead arrangers for the facility. Citi will also act as the administrative agent and security trustee for the facility.
“This facility represents a key milestone in Phoenix’s strategy of growing its fleet of next-generation aircraft assets on lease with airlines across the globe,” Mathew Adamo, managing partner of AIP Capital, who also serves on the board of Phoenix Aviation, said. “This facility, in addition to our acquisition activity in 2024, further demonstrates Phoenix’s access to the capital markets and the markets confidence in our platform and growth.”
Gibson Dunn acted as legal advisor to Phoenix and AIP, and Clifford Chance acted as legal advisor to the lenders. McCann Fitzgerald acted as legal advisor to Phoenix and AIP in Ireland, and PwC provided tax advice.
