AeroCentury Corp. Revolving Credit Facility Addition
BURLINGAME, Calif., Jan. 5 /PRNewswire-FirstCall/ -- AeroCentury Corp., , an
independent aircraft leasing company, announced today that First Bank & Trust
has joined the Company's credit facility. As a result, the credit facility has
been increased from $40 million to $50 million.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020723/ACYLOGO ) Neal D. Crispin, President of AeroCentury, said, "Having our facility back at
$50 million gives us additional flexibility in pursuing acquisition
opportunities. We look forward to working closely with First Bank & Trust and
our other lenders." William G. Nelle, Jr., Senior Vice President, Commercial & Private Banking of
First Bank & Trust, said, "We are pleased to join the AeroCentury facility. They
are a local company with worldwide presence, ideally suited to our efforts to
expand in the San Francisco Bay Area." First Bank, dba First Bank & Trust in California, is one of the largest
privately owned banks in the country with more than $7 billion in assets and
nearly 150 locations in California, Texas, Missouri and Illinois.
The full text of the amendment to the credit agreement adding First Bank & Trust
as a participant has been filed in a Form 8-K report with the Securities &
Exchange Commission, and is available through the Internet at the SEC's EDGAR
system. The filing can also be accessed by clicking "SEC Filings" on the
Company's home page at http://www.aerocentury.com/ .
AeroCentury is an aircraft operating lessor and finance company specializing in
leasing regional aircraft and engines utilizing triple net leases. The Company's
aircraft and engines are on lease to regional airlines and commercial users
worldwide.
This release includes forward-looking statements regarding the Company such as
the Company obtaining additional flexibility to pursue acquisition
opportunities. This statement is subject to certain risks and uncertainties that
could cause actual results to differ materially from those anticipated in the
forward-looking statement. These risks include, but are not limited to,
availability of continued acquisition financing, continued covenant compliance
under the credit facility, the lack of any lease defaults by significant
customers of the Company, the effect of worsening economic conditions or other
events or circumstances, including terrorist attacks or other geopolitical
events, and the condition of the aircraft and/or airline industry. The
forward-looking statements and reasons why results may differ reflect the
management's point of view only as of the date hereof. The Company undertakes no
obligation to publicly revise these statements to reflect subsequent events or
circumstances. Readers should also carefully review the risk factors described
in documents the Company files from time to time with the Securities and
Exchange Commission including the Company's Form 10-QSB for the quarter ended
September 30, 2003. http://www.newscom.com/cgi-bin/prnh/20020723/ACYLOGO http://photoarchive.ap.org/ DATASOURCE: AeroCentury Corp.
CONTACT: Toni Perazzo, Chief Financial Officer of AeroCentury, +1-650-340-1888 Web site: http://www.aerocentury.com/
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