NEWPORT BEACH, Calif. (June 23, 2020) – Aviation Capital Group LLC (ACG), a leading aircraft asset manager, announced today the closing of a $600 million unsecured revolving line of credit with its 100% owner Tokyo Century Corporation. The facility has an initial term of 3 years and will automatically extend for additional one-year periods with mutual consent.
“This intercompany line of credit is an example of the tremendous support Tokyo Century provides to ACG and clearly demonstrates their ongoing commitment to our continued success,” said Khanh T. Tran, President and Chief Executive Officer of ACG.
“Maintaining our strong investment grade rating profile is very important to both ACG and Tokyo Century. This multi-year $600 million line of liquidity provides an additional layer of capital support which benefits the company and our investors,” said Madhu Vijay, Executive Vice President and Chief Financial Officer of ACG.