Aircastle closes $450m revolver

Aircastle has closed a $450 million unsecured revolving credit facility with Citibank, Goldman Sachs, J.P. Morgan Chase and Royal Bank of Canada, as Joint Lead Arrangers, and Citibank as agent.  The bank group was expanded to nine institutions and the facility’s term was extended to four years and will expire in March 2018.  The facility, which will be used for working capital, including the acquisition of aircraft, was increased to $450 million from $335 million and is currently undrawn. Mike Inglese, Aircastle’s CFO, stated, “The increase in our undrawn, unsecured revolving credit facility highlights Aircastle’s strong relationship with its bank