ACIA Aero Leasing (“ACIA”), a leading provider of regional aircraft leasing and lease management services, and Investec Bank Ltd. (“Investec”) have entered into an agreement for a new Revolving Credit Facility (“RCF”), enabling the lessor to draw new debt secured with regional aircraft to support its growth ambitions.
The first transaction closed on March 3, 2022, was secured with four ATR freighter aircraft, including two ATR 72-500 bulk freighters on lease to a U.S.-based customer in addition to one ATR 72-500 Large Cargo Door freighter and one ATR 72-212 Large Cargo Door freighter on lease to a South Africa-based customer. A second drawdown, scheduled to close later in March 2022, will be secured with three regional aircraft consisting of an Embraer E190, an ATR 72-600, and an ATR 72-500 bulk freighter. Future drawdowns are planned for Q2 and Q3 of 2022 as ACIA continues to acquire target assets.
“We are very pleased to renew and extend our long-running partnership with Investec,” commented Mick Mooney, ACIA’s Chief Executive Officer. “Investec’s approach and interests in this segment are in line with our strategy, making it much easier to execute deals. The structure of this new facility gives us greater flexibility and will support the continued growth of our portfolio in a measured and strategic way.”
Bradley Gordon, Head: Aviation Finance – Africa at Investec, commented that “ACIA is a strong and long-standing aircraft leasing partner with a deep understanding of how to manage a large portfolio of regional aircraft. This new facility will support its commercial strategy, providing additional debt capital to acquire multiple regional aircraft in 2022 and beyond. We’re delighted to continue to partner with the ACIA team as they continue to grow their business.”
The RCF has a term of seven years. ACIA was advised by K&L Gates and Investec by Watson Farley & Williams.
Mooney concluded: “This new facility demonstrates Investec’s confidence in our leasing business and our strategy as we continue to expand our portfolio and customer base.”