Thursday, September 19, 2024

SMBC Aviation Capital raises $1.5 billion as it completes new global finance facility – Aviation Business News

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Aircraft leasing giant SMBC Aviation Capital has raised $1.5 billion having completed a five year global syndicated finance facility.

The financing came from 29 financial institutions, 13 of which are new banking relationships for SMBC Aviation Capital.

The senior syndication phase of the transaction included participation from 10 banks, while the general syndication phase saw a further 19 banks participate.

The syndicated finance facility comprises a $375 million term loan and a $1.125 billion revolving credit facility with a consortium of American, Asian, Australian, European and Middle East banks.

Aisling Kenny, chief financial officer, SMBC Aviation Capital, said: “This transaction represents a further milestone in our syndicated banking programme and demonstrates our ability to raise large scale, competitively priced capital.

“The deal is global in nature and further increases the diversification of our banking relationships, as we welcomed 13 new banking partners as part of the syndication.

“The revolving credit facility which forms 75% of this transaction will provide further operational flexibility for the future liquidity needs of SMBC Aviation Capital.”

Citigroup Global Markets Asia Limited (Citi) acted as Global Co-ordinator, and together with eight banks, including Bank of China Limited, Caixabank, Cathay United Bank, DBS Bank Limited, Emirates NBD Capital Limited, Oversea-Chinese Banking Corporation Limited, Taipei Fubon Commercial Bank and Taishin International Bank acted as Senior Mandated Lead Arrangers and Bookrunners.

Australia and New Zealand Banking Group Limited, Singapore Branch acted as Mandated Lead Arranger and Bookrunner.

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