NAC increases debt facility to $400 million

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By TESTCustomwebLP TESTCustomwebLP March 23, 2015 19:46

NAC increases debt facility to $400 million

Nordic Aviation Capital (NAC), the turboprop lessor, has increased the debt facility it signed in January 2015 to $400 million. The company will use the proceeds to part finance the acquisition of further turboprop and regional jet aircraft.

“This is an important transaction for our company,” said Kim Graven-Nielsen, CEO of NAC. “We thank the participating banks for providing the capital to fuel our continued growth. NAC has had 18 consecutive years of net income growth and this facility will help us continue our strategy.”

Søren M. Overgaard, CFO, said: “This facility, which has unique aspects regarding the assets that can be placed in the portfolio, allows NAC the opportunity to better service our growing client base with the right product for their fleet in a timely manner. We are grateful for the interest that has been in participating in this facility.”

The $400 million facility was led by Deutsche Bank as sole structuring agent and Deutsche Bank and Citibank as global bookrunners. The mandated lead arrangers included Crédit Agricole Corporate and Investment Bank, Bank of America Merrill Lynch, DVB Bank, BNP Paribas and Everbank Commercial Finance.

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By TESTCustomwebLP TESTCustomwebLP March 23, 2015 19:46