DUBLIN, Ireland, Jan. 12, 2023 -- Griffin Global Asset Management DAC and Griffin Global Asset Management (Servicer) LLC (together, “Griffin”) announced today that on December 27, 2022 Palisade Aviation Holdings Warehouse, Ltd. and Palisade Aviation Holdings Warehouse, LLC (together, the “Borrowers”), signed an amendment, and upsizing transaction for its senior secured warehouse facility, which now has a committed amount of $1,600,000,0000 (the “Facility”). The initial Facility had $1,000,000,000 of capacity and was awarded the Airline Economics Global Editor’s Deal of the Year Award for 2021. The Borrowers were jointly established by Griffin and funds managed by Bain Capital Special Situations as part of a joint venture focused on building a diversified aviation portfolio in conjunction with a world-class commercial aviation leasing and alternative asset management platform.
“As the Griffin platform continues to grow, it is enabled through the continued support from our lending group. We are happy to announce the increase in Facility size, as well as the addition of Bank of Montreal to this group,” said John Beekman, Chief Financial Officer of Griffin.
As part of the amend, and upsize transaction, commitments for the facility were provided by Bank of America, N.A., Barclays Bank PLC, Goldman Sachs, Mizuho Americas, Morgan Stanley, PNC Bank, Wells Fargo Bank, National Association, Societe Generale, Deutsche Bank AG, New York Branch, and Bank of Montreal.
Hughes Hubbard & Reed LLP acted as U.S. legal advisors to Griffin and the Borrowers, Milbank LLP acted as legal advisors to the Lenders, Maples and Calder (Ireland) LLP acted as Irish legal advisors for the Borrowers, Maples and Calder (Cayman) LLP acted as Cayman Islands legal advisors for the Borrowers, A&L Goodbody LLP acted as Irish legal advisors to Griffin and PWC acted as Irish tax advisors for Griffin and the Borrowers. UMB Bank, N.A. is acting as the administrative agent and the security trustee.