DUBLIN, Sept. 28, 2016 /PRNewswire/ -- SKY Aviation Leasing International Limited ("SKY Leasing"), a full-service aircraft leasing company headquartered in Dublin, Ireland, today announced the closing of a $750 million warehouse debt financing facility (the "Facility").
Approximately half of the Facility is expected to be drawn to finance aircraft currently owned or under firm commitment to be acquired by SKY Leasing. These aircraft have a weighted average age of less than two years and a weighted average remaining lease term greater than nine years. The Facility's remaining commitment is available to finance additional aircraft acquisitions. The Facility was oversubscribed and its syndicate included seven banks with extensive experience in aviation finance.
"The successful completion of this Facility will support our aircraft acquisition program through the end of 2017. It will also increase our ability to fund airline sale and leaseback transactions and large portfolio acquisitions efficiently," said Rich Wiley, CEO of SKY Leasing affiliate SKY Aviation Leasing US LLC. "We are delighted to work with such a strong syndicate of leading aviation lenders, which is an important validation of our platform and business model."
Deutsche Bank AG acted as sole structuring agent, joint syndication agent and joint lead arranger. Bank of America Merrill Lynch acted as joint syndication agent and joint lead arranger. Crédit Agricole acted as joint lead arranger.
About SKY Leasing
SKY Leasing and its affiliates are a premier aircraft leasing group with headquarters in Dublin, Ireland and a regional office in San Francisco, California. A full-service leasing platform, SKY Leasing leverages its deep experience, global networks, industry insights and managerial talent to acquire and lease young mid-life aircraft. The group's team of industry professionals, led by Rich Wiley, has developed extensive relationships in the international airline community by leasing aircraft to over 200 airline customers globally and executing more than 600 aircraft transactions valued at over $20 billion.
SKY Leasing is owned by ATL Partners, PSP Investments and members of management who have partnered to support SKY Leasing in its corporate mission of being a leading capital provider to commercial airlines and to the secondary market globally.
For more information, visit www.skyleasing.com.
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SOURCE SKY Leasing