Nordic Aviation Capital (NAC) announced that it has closed a five-year senior secured warehouse revolving credit facility with an initial committed amount of $400 million (“the Facility”).
Deutsche Bank AG acted as sole structuring agent for the Facility. Initial Commitments for the Facility were provided by Deutsche Bank AG, Royal Bank of Canada and Citi.
Gareth Halpin Executive Vice President & Group Treasurer, Global Funding and Treasury said, “Following our recent emergence from Chapter 11, this $400 million Facility demonstrates the confidence that our lending partners have in the new NAC platform and business plan and we are grateful for their support. This Facility will provide the capital and flexibility required to execute on our strategic growth plan and support NAC’s aim to remain the global leader in regional aircraft leasing and expand into adjacent single-aisle aircraft by leveraging its world-class asset management platform.”
Clifford Chance LLP acted as legal advisor to NAC with Milbank LLP acting as legal advisor to the lenders.