AeroCentury Corp. Closes Revolving Credit Facility for $75 Million
BURLINGAME, Calif., April 29 /PRNewswire-FirstCall/ -- AeroCentury Corp. (NYSE Amex: ACY), an independent aircraft leasing company, today announced that it has closed a new revolving credit facility. The $75 million credit facility, which has the ability to be expanded to $110 million, is available to AeroCentury through April 28, 2012. The credit facility is provided by a syndicate of banks led by Union Bank, N.A. as Agent. The initial draw under the new credit facility was used to repay AeroCentury's previous credit facility which was due to expire on April 30, 2010.
"Given that conditions in the global capital markets are still extremely challenging, we believe it is a significant accomplishment to have closed this new facility," said Neal Crispin , President of AeroCentury. "We are pleased to have Union Bank as our new agent bank."
AeroCentury is an aircraft operating lessor and finance company specializing in leasing regional aircraft and engines utilizing triple net leases. The Company's aircraft and engines are leased to regional airlines and commercial users worldwide.
SOURCE AeroCentury Corp.
RELATED LINKS
http://www.aerocentury.com
More by this Source
AeroCentury Corp. Reports First Quarter 2013 Results
May 14, 2013, 09:00 ET
AeroCentury Corp. Adds Amsterdam-Based Managing Director
Apr 15, 2013, 11:15 ET
AeroCentury Corp. Reports Fourth Quarter 2012 And Full Year 2012 Results And Amended Credit Facility
Mar 14, 2013, 13:44 ET
Featured Video
Journalists and Bloggers
Visit PR Newswire for Journalists for releases, photos, ProfNet experts, and customized feeds just for Media.
View and download archived video content distributed by MultiVu on The Digital Center.
Custom Packages
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.