KUALA LUMPUR, Oct 13 (Bernama) -- Aircraft leasing platform Wings Capital Partners LLC (Wings) has announced the closing of an unsecured corporate revolving credit facility provided by Los Angeles-headquartered City National Bank.
Wings said it also recently completed the refinancing of four aircraft in a US$76 million (US$1=RM4.69) secured loan facility.
The term facility was due to mature early next year, and Wings proactively refinanced the vehicles using its existing warehouse loan facility, according to its statement.
“We are very pleased with the closing of both transactions,” said senior vice-president – treasurer and head of capital markets, Jakob Gallagher.
He said its first unsecured revolving credit facility provides operational flexibility to efficiently finance its day-to-day business.
“In addition, the refinancing shows our ability to continue to execute in these challenging markets and improves our balance sheet by eliminating our only near-term debt maturity.
“Wings appreciates the continued support from our financing partners, which allows us to efficiently execute our business plan and navigate the evolving markets,” added Gallagher.
Wings is a private, full-service aircraft leasing platform primarily investing in single-aisle, in-production commercial jet aircraft on lease to airlines around the world.
-- BERNAMA
No comments:
Post a Comment