Nordic Aviation Capital (NAC) announced that it has closed a $382m, 5-year, non-recourse term loan facility which will be used to refinance a portfolio of twenty-one aircraft. The term loan, which consists of a mix of narrowbody and turboprop aircraft, will free up $650 million of capacity in its warehouse facility to fund volume targets into 2025.

Wells Fargo is acting as structuring agent on the $382 million term loan deal which also includes participation by existing lenders RBC and Wells Fargo along with new lending partner, KeyBank.

Gareth Halpin, EVP & Group Treasurer, said, “We are grateful for the continued support from our existing lenders and welcome KeyBank to the NAC banking group. We look forward to the new opportunities this partnership will bring as we continue to execute on our growth strategy, expanding our portfolio of larger narrowbody aircraft while maintaining our position as a global leader in regional aircraft leasing.”