AWAS has raised $530 million in the US capital market, a move that the company says demonstrates its ability to meet its capital requirements and diversify its funding sources.
"The $530 million senior secured term loan matures in June 2016 in the US capital markets and the proceeds have been used to refinance two secured credit facilities," says AWAS.
"The term loan is secured by a diverse portfolio of 30 aircraft on lease to 18 lessees in 12 countries," it says.
Goldman Sachs Credit Partners and Credit Agricole Corporate & Investment Bank acted as joint lead arrangers for this facility, says AWAS, adding that the term loan was significantly oversubscribed.
"This transaction illustrates AWAS' ability to diversify its funding sources and to effectively manage its capital requirements, freeing up additional lending capacity from its main commercial banks," it adds.
Source: Air Transport Intelligence news