DUBLIN, Ireland, April 05, 2023 (GLOBE NEWSWIRE) -- Griffin Global Asset Management (“Griffin”) announced today that on April 4, 2023 Palisade Aviation Holdings Warehouse, Ltd. and Palisade Aviation Holdings Warehouse, LLC (together, the “Borrowers”), have upsized its senior secured warehouse facility to $2 billion. The facility now has 12 lenders including new banking partners Citibank, N.A. and Sumitomo Mitsui Banking Corporation, and an additional commitment from Bank of Montreal.
“We are pleased to announce the upsizing of our warehouse facility to $2 billion, which doubles the size of the initial facility that was closed in 2021. Griffin has continued to expand our banking group with the addition of Citi and SMBC along with the increased commitment from Bank of Montreal. The size and flexibility of this credit facility allows us to provide efficient financing solutions for our growing list of airline customers,” said John Beekman, Chief Financial Officer of Griffin.
Commitments for the facility are provided by Goldman Sachs Lending Partners LLC, Bank of America, N.A., Barclays Bank PLC, Mizuho Bank, New York Branch, Morgan Stanley Bank N.A, PNC Bank N.A, Wells Fargo Bank, National Association, Societe Generale and Deutsche Bank AG, New York Branch, Sumitomo Mitsui Banking Corporation, Bank of Montreal and Citibank, N.A.
Hughes Hubbard & Reed LLP acted as U.S. legal advisors to Griffin and the Borrowers, Milbank LLP acted as legal advisors to the Lenders. UMB Bank, N.A. is acting as the administrative agent and the security trustee.