ACIA Aero Leasing (“ACIA”), a leading provider of regional aircraft leasing and lease management services, announced today the upsizing of the lessor’s initial Revolving Credit Facility (“RCF”) with Investec Bank.
Since the first quarter of 2022, Investec Bank has financed a portfolio of eleven aircraft, with a commitment to add a further three aircraft to the financing by August 2022. The financed and committed portfolio, comprising three ATR 72-500 bulk freighters, seven ATR 72 Large Cargo Door (“LCD”) aircraft, one ATR 72-600 passenger aircraft, and three Embraer E190-E1 regional jets, has a current market value in excess of US$100 million.
“We’re continuing to grow our aircraft portfolio with the strong support of Investec Bank. We have acquired nine additional aircraft so far this year and have a strong pipeline for further acquisitions for our portfolio in the third and fourth quarters,” said Mick Mooney, ACIA Aero Leasing’s Chief Executive Officer. “The flexibility within the initial RCF agreement gave us the ability to upsize the facility with relative ease and execute acquisitions quickly and efficiently.”
“Aviation continues to be a core market for Investec, with ACIA being one of our long-standing and key customers within the sector,” commented Bradley Gordon, Head of Aviation Finance for Investec South Africa. “We’re delighted to continue our support for ACIA as they implement their strategic growth plans. ACIA has a unique business and Investec has been able to tailor our products to meet the needs of their growth objectives.”
Mooney concluded: “We’ve worked closely with Investec for the past 15 years as we have built our business to where it is today. We’re excited by ACIA’s growth opportunities and look forward to continuing to grow our business together with Investec in this sector. We’re already working on the next growth phase for our portfolio along with another RCF upsize.”
ACIA was advised by Sid Rajagopal and Manuela Krach at K&L Gates. Investec Bank was advised by Jim Bell and Jane Keith at Watson Farley & Williams.