SMBC Aviation Capital flies past the $1bn mark

admin
By admin July 20, 2016 13:55

SMBC Aviation Capital flies past the $1bn mark

SMBC Aviation Capital’s wholly-owned subsidiary, SMBC Aviation Capital Limited DAC, has closed the sale of $500 million of its 2.65% senior unsecured notes due 2021.  The notes are fully and unconditionally guaranteed by SMBC Aviation Capital. Proceeds from the offering will be used for general corporate purposes, which may include, among other things, the purchase of aircraft and the repayment of existing indebtedness.
SMBC Aviation Capital has also announced its financial results for the fiscal year ended 31 March 2016, with revenue surpassing $1billion for the first time in the company’s history.
Revenue rose by 15% to $1,046 billion, with operating profit of $530 million, an increase of 22%. The lessor has aircraft assets in excess of $10.2 billion, comprising 297 owned and 145 managed aircraft.
Commenting on the news, Peter Barrett, CEO of SMBC Aviation Capital, said: “Today’s announcement illustrates our commitment to diversifying our sources of funding, and clearly demonstrates the market’s confidence in our growth plans.
“I am also pleased to report a strong financial performance for the year, with revenue surpassing the $1 billion mark for the first time in our history. We have continued to expand our business across the world, particularly in Asia, which is a testament to both the strength of our strategy as well as our position as a global leader in this sector.
“We are optimistic about our growth prospects over the longer term.  The continuing support of our shareholders, combined with our focus on our customers and providing them with the most technologically advanced aircraft, mean that we are well positioned to drive future growth.”
admin
By admin July 20, 2016 13:55