AeroCentury Corp. Expands Credit Facility to $170 Million; Purchases Three Embraer 175 Jets

AeroCentury Corp. (NYSE American:ACY), an independent aircraft leasing company, today announced that the participants in its credit facility, for which MUFG Union Bank is the lead participant and agent bank, have added a fifth participant to the lender syndicate and expanded the total revolving credit facility amount to $170 million from $150 million. “We are very pleased with the vote of confidence from our credit facility lenders that this increase represents,” said Toni Perazzo, Chief Financial Officer.

The Company also announced that it had completed the purchase of a package of three Embraer 175 aircraft on lease to a U.S. regional carrier. Michael G. Magnusson, Chief Executive Officer, stated, “This recent acquisition, combined with our purchase of Embraer 145 aircraft earlier this year, brings the total number of Embraer aircraft in our portfolio to six, further diversifying our portfolio into this workhorse regional aircraft brand. With over 1,100 Embraer aircraft operating throughout the world, the demand for, and versatility of, Embraer regional aircraft is indisputable.”

AeroCentury is a global aircraft operating lessor and finance company specializing in leasing regional jet and turboprop aircraft and related engines. The Company's aircraft and engines are leased to regional airlines and commercial users worldwide.